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US Natgas Rises in Volatile Trading

NATGAS

The volatile US Natgas market continues with prices rising today with a dip in US production and forecasts suggesting an easing to warm weather in the East towards mid November.

  • US Natgas DEC 22 up 5.4% at 6.02$/mmbtu
  • Weather forecasts show below normal temperatures for much of the west and central areas and warm weather in the east easing back towards normal in the 8-14 day forecast period. Dry gas demand is hovering below normal, estimated at 66.89bcf/d.
  • Lower 48 dry gas production was yesterday estimated at 99.8bcf/d down from an average of approximately 101.2bcf/d over the previous week.
  • LNG exports are steady after the return of Cove Point and after a dip in flows to Sabine Pass yesterday. Cove Point has recently returned from maintenance and Freeport is still aiming for a gradual return in November although has yet to receive regulatory approval. Gas exports to Mexico remain steady with yesterday just over 6.3bcf/d.

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