Free Trial

US Natgas Supported by Cold US Forecast and Higher LNG Deliveries

NATGAS

US Natgas holding steady with cold weather forecasts and higher LNG export deliveries with a smaller than expected EIA stock draw yesterday.

    • US Natgas JAN 23 up 0.5% at 5.99$/mmbtu
  • The EIA weekly gas inventories for the week ending Dec 2 showed a -21bcf decline compared to expectation of a -30bcf draw and the 5-year average for this time of year of -28bcf. Total US inventories have dipped back below the five year average in recent weeks at 3,462bcf.
  • The weather forecast shows cold weather across western areas in the 6-10 day period spreading across most of the country in the second week of the outlook. Current warmer weather is keeping domestic demand below seasonal normal levels at 83.3bcf/d.
  • Lower 48 dry gas production is today estimated at 100.2bcf/d while deliveries to LNG export terminals are back up to 12.5bcf/d and flows to Mexico are 6.3bcf/d.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.