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US Natgas Trades at Lowest Since March

NATGAS

US Natgas fell 5.8% to 5.41$/mmbtu and the lowest since 30th March.

  • The extended outage of Freeport LNG export terminal and higher injections into storage have combined to push prices lower.
  • Deliveries to US LNG export terminals are slightly higher today at 11.24bcf compared to the weekly average of 11.12bcf over the last week.
  • US lower 48 dry gas production dips to 94.77bcf but remains above the 5-year range.
  • Domestic demand is at seasonal normal levels however above normal temperatures are forecast for next week on the West Coast, Rockies, and the South with the potential to increase air conditioning consumption.
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