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US Natgas Recovering Ground after Weekly Decline

NATGAS

US Natgas is recovering after a week long decline from around 7.34$/mmbtu to a low of 5.36$/mmbtu.

    • US Natgas JAN 23 up 3.8% at 5.68$/mmbtu
  • Deliveries to US LNG export terminals have recovered slightly from a recent dip with higher supply to Sabine Pass LNG. Today flows are estimated at 11.5bcf/d but still down from an average of just below 12bcf/d last week.
  • US weather forecasts are still showing below normal temperatures in western areas and above normal in the east however all areas are trending back towards normal after the middle of December. Domestic natural gas demand is today estimated at 80.9bcf/d.
  • US production was steady at 100.7bcf/d yesterday. The latest EIA forecast released yesterday forecast average production to increase from 98.1bcf/d in 2022 to 100.4bcf/d in 2023.
  • Exports to Mexico are holding steady around 6.3bcf/d.

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