US Losing Gains From Yesterday
Aug-10 12:07By: David Lee
US+ 2
US Natgas losing gains made yesterday as cooler weather forecasts look likely to ease domestic demand pressures.
- US Natgas SEP 22 down -1.4% at 7.72$/mmbtu
- NOAA weather forecasts continue to show hot temperatures on the West Coast but a return to nearer normal for much of the rest of the country. Dry gas demand was approximately 73.7bcf/d yesterday.
- Ongoing high production is adding extra resistance to prices with lower 48 dry production estimated at 97.7bcf/d on Tuesday.
- Exports to Mexico are around 6.3bcf/d while deliveries to LNG export terminals remain stable at about 11.2bcf/d.
