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US Natural Gas Declines As Weather Moves Cooler In Central US
US natural gas futures fell as weather forecasts shifted cooler for the central part of the country. Gas storage remains significantly above the five-year average, inciting fears of a continued oversupplied market.
01 Jul 2024, 10:09 PM IST 
A natural gas refinery in Corpus Christi, Texas.
(Bloomberg) -- US natural gas futures fell as weather forecasts shifted cooler for the central part of the country. Gas storage remains significantly above the five-year average, inciting fears of a continued oversupplied market.
- Futures for August delivery -6.3c, or -2.4%, to $2.538/mmbtu on Nymex, as of 10:17am ET
Weather:
- Forecasts are trending cooler in the central part of the US, while summer heat continues for much of the rest of the country, particularly the West, July 6-10: Maxar
- See WHUT for a map of latest 6-10 day weather forecast: NOAA
- Click here for two-week temperature forecasts for the US
Daily BNEF Gas Data:
- Lower-48 dry gas production on Monday ~100.9 bcf/day, or -1% y/y
- Lower-48 total gas demand on Monday ~74.5 bcf/day, or +5.6% y/y
- Dry gas exports to Mexico on Monday ~6.3 bcf/day, or -5.5% w/w
- Estimated gas flows to LNG export terminals on Monday ~12.9 bcf/day, or +0.7% w/w
Gas Market News:
- European Gas Falls as Supplies Provide Buffer From Coming Heat
- China’s June LNG Imports Drop After Spike in Spot Prices (1)
- EUROPE GAS OUTAGES: Planned Works at St. Fergus Extended
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