US Natgas finding some support today with mixed weather forecasts showing near normal in the west but above normal still in the central and eastern areas.
- US Natgas FEB 23 up 2.1% at 3.72$/mmbtu
- Front month has recovered from a 12 month low of 3.565$/mmbtu yesterday. US natural gas demand is today estimated at 88.4bcf/d.
- Deliveries to US LNG export terminals have reduced again today to 11.91bcf/d but remains near 2022 levels despite with ongoing outage of Freeport LNG. The potential return of Freeport LNG exports at the end of this month could add to price support.
- US lower 48 dry gas production is holding just below record levels at 101.6bcf/d yesterday while exports to Mexico are today at 6.5bcf/d.