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US Natgas Falls to Lowest Since April 2021

NATGAS

US Natgas extends the decline yet again with stable supplies, near normal domestic demand and a mixed weather forecast. Front month is trading at the lowest since April 2021.

    • US Natgas MAR 23 down -4.9% at 2.71$/mmbtu
  • Natural gas production remains high with output estimated around 101.4bcf/d over last weekend and largely unchanged this month.
  • The latest NOAA forecast suggests mostly near normal temperatures in the 6-10 day period and temperatures expected to fall below normal in the west and rise above normal in the east in the 8-14 day period. Domestic demand has today increased to 106bcf/d but is still in line with the five year average.
  • Deliveries to US LNG export terminals are holding steady at around 12.5bcf/d while export to Mexico were approximately 6.3bcf/d over the weekend.

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