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US Natgas Extends Decline With Cooler Weather Forecast

NATGAS

Front month US Henry Hub futures extend the pull back from a high of 2.85$/mmbtu as the hot weather forecast eases across parts of the country.

    • US Natgas OCT 23 down -5.8% at 2.61$/mmbtu
    • US Natgas MAR 24 down -2.6% at 3.31$/mmbtu
    • US Natgas SEP 24 down -2% at 3.28$/mmbtu
  • The latest two week NOAA forecast suggests near or slightly below normal temperatures in the North East expanding into more central areas, although the US Gulf Coast region still shows strongly above normal temperatures. Domestic gas consumption is still at the top of the five year range at 73.9bcf/d today.
  • US domestic natural gas production was yesterday estimated at 102.5bcf/d according to Bloomberg compared to around 99.5bcf/d this time last year.
  • Feedgas delivery flows to US LNG export terminals are relatively unchanged in recent days at 13.1bcf/d today compared to an average of 12.3bcf/d over the previous 30 days.
  • Export flows to Mexico are holding well above normal at 7.1bcf/d today.

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