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Free AccessUS Natgas Falls Back From 10$/mmbtu
US Natgas front month falls back after touching 10$/mmbtu for the first time since 2008.
- US Natgas SEP 22 up 1.5% at 9.82$/mmbtu
- TTF SEP 22 down -4.5% at 264.23€/MWh
- The surge in global gas prices has helped pull US gas higher with strong domestic and overseas demand adding to the upside pressure. The return of Freeport LNG in October will increase LNG export demand after the prolonged outage since early June.
- European TTF prices have settled back down slightly so far today and US prices have followed.
- High demand due to hot weather over the summer has kept US gas inventories well below normal. Lower 48 gas demand is today at 70.9bcf/d.
- US production has been slowly growing with yesterday at 99.2bcf/d near the recent record high .
- Deliveries to LNG export terminals are 11.08bcf/d while exports to Mexico are 6.91bcf/d.
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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.