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US Steady After Rally from Lower Stocks and Higher Demand

NATGAS

US Natgas is drifting lower today after rallying 0.8$/mmbtu yesterday on EIA data and strong domestic demand.

  • US Natgas AUG 22 down -0.3% at 6.28$/mmbtu
  • EIA stock data released yesterday came in much lower than expected at 60bcf versus 75bcf.
  • Domestic demand is expected to remain above normal with the forecast of warm temperatures continuing into next week. Lower 48 demand is today estimated at 71.5bcf compared to seasonal normal levels closer to 67bcf.
  • Gas production is just slightly lower than yesterday at 96bcf while exports are also relatively unchanged. Pipeline exports to Mexico are still high at approximately 7bcf and deliveries to LNG export terminals is estimated at 11.0bcf.
Energy BulletsCommoditiesUS
Energy BulletsCommoditiesUS

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