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US Natgas Holding Near Lowest Since March

NATGAS

US Natgas holding just above the lowest since March with above normal temperatures across most of the US during the first week of January and potentially extending into the second week of the outlook.

    • US Natgas FEB 23 up 1% at 4.6$/mmbtu
  • EIA data released yesterday showed a larger than expected draw in US inventories due to the recent winter demand increase. Stocks for the week ending 23 Dec were at 213bcf compared to expectation of a 195bcf draw and the five year average of 105bcf draw.
  • Lower 48 dry gas consumption is estimated down to 80.4bcf/d today compared to the seasonal normal of 92.2bcf/d.
  • Domestic natural gas production has recovered to the levels seen before the recent winter disruption up to 100.6bcf/d.
  • Deliveries to US LNG export terminals are today estimated at 11.85bcf/d while exports to Mexico were yesterday at 6.1bcf/d.

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