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US Prices Ease but Demand to Remain High

NATGAS

US natgas falling back on the day as domestic demand eases from the peak earlier in the week.

  • US Natgas AUG 22 down -2.1% at 6.46$/mmbtu having risen from a low of 5.38$/mmbtu earlier this month.
  • Weather forecasts continue to show higher than average temperatures across the US until the end of the month. Lower 48 gas demand is estimated as 71.8bcf today down form a peak of 74.3bcf yesterday.
  • Dry gas production is near the recent normal at 95.6bcf which is 10% higher than the 5-year average amount.
  • Exports remain high with flows to Mexico are up at 7.3bcf and deliveries to LNG export terminals steady at 11.4bcf.
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