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US Natural Gas Rallies on Higher LNG Export Flows

NATGAS

US Natgas gains 11% today and 31% since the low on Oct 24 with the return of flows to the Cove Point LNG export terminal and ahead of the expected return of Freeport during November.

    • US Natgas DEC 22 up 9.8% at 6.24$/mmbtu
  • Deliveries to Cove Point are up to near pre maintenance levels of 0.75bcf/d taking total flows up to 12.5bcf/d today.
  • The two-week weather forecast continues to show cold temperatures in the west and above normal in the east. Lower 48 dry gas demand was just below the five year average at 69.4bcf/d yesterday.
  • US natural gas production is holding steady around 101/5bcf/d while exports to Mexico are today estimated at 6.2bcf/d.

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