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US Gas Extends Rebound on Higher Demand Expectations

NATGAS

US Natgas has rebounded 10% since the low close on Friday with higher demand expected due to falling temperatures.

    • US Natgas FEB 23 up 9.4% at 3.74$/mmbtu
  • Cold weather in eastern areas is expected to spread across the country with the west coast falling back towards normal in the second week of the outlook. Current domestic demand is still well below normal and below the previous five year range at just 85.4bcf/d.
  • Natural gas production remains well above normal and last years levels with today estimated at 101.4bcf/d.
  • Deliveries to US LNG exports terminals are relatively unchanged at 12.16bcf/d today with no clear indication yet as to when Freeport LNG is likely to restart. Gas export to Mexico are still above normal around 6.6bcf/d yesterday.

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