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US Natgas Ticks Lower But Still Supported by High Demand and Low Output

NATGAS

Henry Hub is slightly down on the day but still holding onto gains seen this month. Support comes from above normal demand due to warm weather and with an ongoing reduction in US natural gas production and despite curtailed LNG exports.

    • US Natgas JUL 23 down -1% at 2.61$/mmbtu
  • Domestic production is today still down at an estimated 98.7bcf/d according to Bloomberg compared to an average of 101.2bcf/d in May due to pipeline outages.
  • The latest NOAA weather forecast is showing above normal temperatures across much of the US in the 6-14 day period although at or below normal temperatures remain on the far east and west coasts. Domestic demand is today above normal at 67.9bcf/d according to Bloomberg.
  • Delivery flows to the US LNG export terminals are still curtailed due to maintenance at the Sabine Pass LNG export terminal. Pipeline flows are today estimated at 11.0bcf/d compared to an average of 13bcf/d seen during May.
  • Export flows to Mexico are today estimated up at 6.6bcf/d.
Energy BulletsCommoditiesUS
Energy BulletsCommoditiesUS

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