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US gas loses some weekly gains

NATGAS

US Natgas losing some of gains from earlier in the week trading down 5.0% to 8.45$/mmbtu. The market remains up from approximately 8$/mmbtu seen at the start of the week.

  • Potential lower domestic demand on the back of cooling weather and reduced feeds into power production.
  • The market remains tight after EIA inventory data yesterday showed a build of 80bcf compared to expectation of an 89bcf build.
  • US lower 48 dry gas production is unchanged from yesterday at 95.92bcf with flows to LNG export terminals also steady at 13.3bcf

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