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US Ticks Higher After Recent Pull Back

NATGAS

A natural gas pipeline explosion in Louisiana and ongoing warm weather are supporting the US Natgas front month price.

  • US Natgas OCT 22 up 1.4% at 8.11$/mmbtu
  • The weather forecast is mixed across the US with the 6-14 day forecast showing near normal temperatures in the West but above normal for much of the rest of the country. Dry gas demand is estimated at 67.2bcf/d today.
  • The pipeline explosion at Lake Lery is under investigation.
  • Lower 48 gas production remains strong with estimates still currently over 100bcf/d compared to flows of approximately 94bcf/d this time last year.
  • US LNG exports are strong at 11.6bcf/d but are offset by a dip in exports to Mexico of 6.3bcf/d.

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