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US Finding Some Support on Mixed Weather

NATGAS

US Natgas finding some support today with mixed weather forecasts showing near normal in the west but above normal still in the central and eastern areas.

    • US Natgas FEB 23 up 2.1% at 3.72$/mmbtu
  • Front month has recovered from a 12 month low of 3.565$/mmbtu yesterday. US natural gas demand is today estimated at 88.4bcf/d.
  • Deliveries to US LNG export terminals have reduced again today to 11.91bcf/d but remains near 2022 levels despite with ongoing outage of Freeport LNG. The potential return of Freeport LNG exports at the end of this month could add to price support.
  • US lower 48 dry gas production is holding just below record levels at 101.6bcf/d yesterday while exports to Mexico are today at 6.5bcf/d.

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