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US Natgas Extends Decline with Moderate Demand and Steady Supply

NATGAS

US Natgas continues to trend lower as front month Henry Hub trades below 2.2$/bbl earlier today due to moderate demand and steady supply.

    • US Natgas MAR 23 down -2.7% at 2.21$/mmbtu
  • Natural gas demand is maintaining below normal with today estimated at 85.4bcf/d according to Bloomberg.
  • US production has remained stable over the last couple of weeks with yesterday estimated at 100.9bcf/d.
  • Total deliveries to US LNG export terminals are relatively unchanged from yesterday at 12.97bcf/d with supply to Freeport LNG holding around 0.47bcf/d. Prior to the fire and outage in June last year daily deliveries to Freeport were just over 2bcf/d.
  • Gas exports to Mexico are slightly down from last week but still above normal at 5.3bcf/d.

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