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US Down on Easing Temperatures and High Production

NATGAS

Front month US natgas down 5% today as prices continue to fall from the Jul 26 peak.

  • US Natgas SEP 22 down -5.1% at 7.65$/mmbtu
  • Easing US hot temperatures, high production and more stability in EU gas prices has led to the lower prices.
  • Weather forecasts show East Coast temperatures easing back to near normal although much of the rest of US remains above. US demand is currently still above normal at about 74.7bcf/d.
  • US lower 48 dry gas production is today at 96.8bcf compared to a 5-year average of approximatively 87bcf.
  • Exports to Mexico are at 6.7bcf/d while deliveries to LNG export terminals are at 11.2bcf/d before the expected return of Freeport LNG next month.
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