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US Gas Follows Europe and Asia Higher

NATGAS

US Natgas rally continues as global prices increase on hot weather and tight supply.

  • US Natgas SEP 22 up 1.8% at 9.5$/mmbtu
  • US Natgas yesterday closed at the highest since 2008 yesterday following record levels in European and Asian markets.
  • Above normal temperatures are still forecast on the East and West Coasts over the coming couple of weeks. US lower 48 dry gas demand is today at 69.9bcf/d, below recent seasonal highs but still above normal.
  • US production was still strong at 98bcf/d yesterday while overseas exports remain steady with 10.9bcf/d to LNG export terminals and 7.2bcf/d to Mexico.

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