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US Natgas Dips on Colder Weather

NATURAL GAS

The US Henry Hub is falling back to levels seen end last week amid a downward revision in temperatures weighing on natural gas demand for cooling.

  • US Natgas SEP 23 down -1.4% at 2.54$/mmbtu
  • The latest 6-10 day weather forecast shows a significant downward revision in temperatures, especially for the western regions in the US with temperatures below and near normal levels for the period while the rest of the regions continues to see temperatures above the norm, spurring demand for cooling. Lower 48 dry gas demand today has fallen to 73.29bcf/d, compared with highs seen at 78.92bcf/ early last week. But demand remains well above the seasonal norm.
  • Feedgas flows to US LNG terminals have today risen to 12.77bcf/d, up from 12.30bcf/d on Monday above the 30-day moving average of 12.17bcf/d. This was due to increased flows to increased flows to the Calcasieu Pass terminal.
  • US domestic natural gas production stood at 101.44bcf/d, in line with this month’s average.
  • US natural gas flows to Mexico are still well above normal at 6.85bcf/d.

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