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US 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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