Free Trial

US Natgas Edge Up From Lowest in Two Years

NATGAS

US Natgas is edging higher after falling to the lowest since early 2021 earlier today.

    • US Natgas MAR 23 up 1.5% at 2.49$/mmbtu
  • Weather forecasts are mixed with the 6-14 day outlook showing above normal temperatures in eastern areas but below normal in the west. Domestic demand is today estimated above normal at 112.7bcf/d due to current below normal temperatures.
  • US natural gas production is relatively unchanged from yesterday at 97.6bcf/d but still below levels over 100bcf/d seen during January.
  • EIA weekly gas data yesterday showed total US inventories are above the five year average at 2,583bcf after a smaller than normal draw of -151bcf and a revision of +5bcf in stock levels from the previous week.
  • Deliveries to US LNG export terminals are today down to 11.9bcf/d mostly due to a drop in supply to Cove Point from 0.88bcf yesterday to just 0.13bcf today. Bloomberg data is showing very small flows towards Freeport LNG but nothing significant yet as the facility increases efforts towards a restart.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.