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US Gas Surges Back Above 9$/mmbtu

NATGAS

US gas trading 6.6% higher as high temperatures continue across the US

  • US Natgas trading at 9.09$/mmbtu up from a low of 8.27$/mmbtu on Friday last week
  • Above normal temperatures are expected in the South, Midwest, Rockies and California over the next 8 to 14 days raising the prospect of higher power plant demand.
  • High export demand is adding to upward price pressure with flows to LNG export terminals approximately 12.88 bcf/d compared to an average of 12.74bcf/d last week.
  • Lower 48 dry gas production was 95.77bcf/d yesterday and demand is 61.3bcf/d, both slightly down on last week.

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