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US Follows EU Gas Lower


Decline in European gas is pulling US Natgas lower despite ongoing domestic hot weather

  • US Natgas OCT 22 down -1.5% at 8.9$/mmbtu
  • TTF OCT 22 down -9% at 241.5€/MWh
  • Weather forecasts continue to show above normal temperatures throughout the forecast period although some moderation is seen in week 2. Demand is estimated slightly lower at 72.3bcf/d today having been up at 75bcf/d for the previous two days.
  • Lower 48 dry gas production has dipped to 98.8bcf/d while exports remain steady. LNG exports are estimated at 11.1bcf/d and flows to Mexico at 6.8bcf/d.

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