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NATGAS: U.S. Gas Prices Pare Back After Monday's Surge

NATGAS
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U.S. natural gas prices have reversed some of Monday’s surge as forecasts that spurred the rally showed signs of warmer weather – alleviating concerns around plunging January temps.

  • US Natgas FEB 25 down -5.6% at 3.72$/mmbtu
  • Weather models for the Midwest and South shifted to warmer temperatures for the Jan. 10-Jan. 14 outlook, with colder weather now concentrated in the eastern half of the US according to Maxar.
  • LSEG estimated 492 heating degree days over the next two weeks, compared with 499 estimated on Monday.
  • Estimated gas flows to LNG export terminals on Tuesday ~14.6 bcf/day, or +3.4% w/w Bloomberg reported.
  • Lower 48 natural gas demand is up slightly to 89.5bcf/d today, according to Bloomberg and is expected to rise further amid falling temperatures in the coming week.
  • Venture Gator, the second vessel to load from Plaquemines LNG is set to leave on Tuesday Kpler reported earlier.
  • Cheniere Energy said on Monday said it produced first LNG from a new Texas facility, becoming the second new U.S. export plant this year to increase supplies of the superchilled gas.
  • LSEG said average gas output in the Lower 48 U.S. states rose to 103.3 bcfd so far in December, from 101.5 bcfd in November.
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U.S. natural gas prices have reversed some of Monday’s surge as forecasts that spurred the rally showed signs of warmer weather – alleviating concerns around plunging January temps.

  • US Natgas FEB 25 down -5.6% at 3.72$/mmbtu
  • Weather models for the Midwest and South shifted to warmer temperatures for the Jan. 10-Jan. 14 outlook, with colder weather now concentrated in the eastern half of the US according to Maxar.
  • LSEG estimated 492 heating degree days over the next two weeks, compared with 499 estimated on Monday.
  • Estimated gas flows to LNG export terminals on Tuesday ~14.6 bcf/day, or +3.4% w/w Bloomberg reported.
  • Lower 48 natural gas demand is up slightly to 89.5bcf/d today, according to Bloomberg and is expected to rise further amid falling temperatures in the coming week.
  • Venture Gator, the second vessel to load from Plaquemines LNG is set to leave on Tuesday Kpler reported earlier.
  • Cheniere Energy said on Monday said it produced first LNG from a new Texas facility, becoming the second new U.S. export plant this year to increase supplies of the superchilled gas.
  • LSEG said average gas output in the Lower 48 U.S. states rose to 103.3 bcfd so far in December, from 101.5 bcfd in November.