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US Edges Higher Before Expectation of Above Normal US Stock Build

NATGAS

US natgas edges higher ahead of the EIA inventory data due later today after holding near 6$/mmbtu for much of the last week.

    • US Natgas DEC 22 up 2.3% at 6.34$/mmbtu
  • The expectation is for another above normal build of +63bcf compared to +79bcf last week and the 5-year average for this time of year of +8bcf. Total US stocks were last week at 3,580bcf and 1.96% below the five year average.
  • Dry gas demand is today up to 97.3bcf/d on colder weather but the latest forecast shows temperatures back towards or above normal throughout the 6 to 14 day period.
  • US natural gas production was back to 100.4bcf yesterday after increasing to 101.9 at the start of the week.
  • Deliveries to LNG export terminals are today estimated at 12.51bcf/d and exports to Mexico are at 6.4bcf/d.

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