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US Natgas Rises On Hot Weather

NATURAL GAS

US Henry Hub front month posted gains today amid an upward revision in temperatures for most of the US, spurring demand for heating. EIA gas storage data are due later today, with an expected increase in stocks in line with the five-year average.

  • US Natgas AUG 23 up 2.7% at 2.67$/mmbtu
  • EIA US natural gas storage data will be released today 15:30BST. Stocks are expected to have grown by 45.25Bcf according to Bloomberg, in line with the five-year average.
  • The US production has edged down today at 99.47bcf/d today according to Bloomberg having fallen from a high of 102.54bcf/d on 7 Jul.
  • Delivery flows to the US LNG export terminals have edged down today to 12.71bcf/d, from 12.81bcf/d yesterday but deliveries remained above the 30-day moving average. Sabine Pass LNG flows recovered to 4.29bcf/d today, from Tuesday’s lower level of 3.78bcf/d.
  • Domestic demand has edged higher on the day and remains within the five-year average range with lower 48 dry gas consumption came off today at 74.31bcf/d according to Bloomberg. The latest two-week weather forecast for the US has been revised up with nearly all of the US seeing temperatures above the seasonal norm, spurring demand for cooling.
  • Export flows to Mexico have edged higher on the day to 7.12bf/d, below the highs earlier this month of 7.49bcf/d on 6 July.
Energy BulletsCommodities
Energy BulletsCommodities

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