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US Falls From Peak as Hot Forecasts Moderate

NATGAS

US Natgas continues to fall back from the peak last week on high production and as the above normal temperature forecast eases in the US. Well above normal temperatures are still forecast for the US Midwest.

  • US Natgas SEP 22 down -2.7% at 8.01$/mmbtu
  • US dry gas demand is today above normal at 74.5bcf/d compared to a seasonal normal of about 68bcf/d.
  • US production reached a high of 98.55bcf/d over the weekend as production has gradually increased since the drop below 85bcf/d in early 2020.
  • Deliveries to LNG export terminals have picked back up to 11.2bcf/d having dipped to 10.6bcf last week on lower supply to Sabine Pass.

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