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US Gas Falls back from Peak

NATGAS

US Natgas rally taking a breather as prices fall back from a peak at 9.38$/mmbtu last week. Jul22 currently trading down 2.85% at 8.475$/mmbtu.

  • Gas production is relatively strong at 96.43bcf/d compared to a 5-year average of 89.77bcf/d.
  • Flows to LNG terminals were slightly lower on Monday at 12.83bcf/d.
  • Domestic demand is above average for time of year as drought and heat in the West and South reduce hydro power production and increases air conditioning demand.

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