U.S. Natural Gas Drops With Mild Weather Set to Ease Demand
(Bloomberg) -- U.S. natural gas futures fell, erasing earlier gains, as forecasts for warmer weather in the eastern half of the country point to easing domestic demand.
April gas futures settled 1.5% lower at $4.402 per million British thermal units on the New York Mercantile Exchange on Monday.
Earlier, the commodity rose as much as 4.8% on the prospect of higher overseas demand following tighter sanctions to isolate Russia, one of the world's top energy suppliers.
- Midday update to the Global Forecast System trended warmer in the eastern part of the nation with above average temperatures expected this weekend and again on March 7-12: NatGasWeather.com
- “While April '22 prices are now lower on the day, aided by bearish weather trends, we caution the Russia/Ukraine conflict could escalate further and could ultimately be more important than weather trends”: NatGasWeather.com
- Latest figures from BNEF:
- Lower 48 dry gas production ~93.6 bcf, or +2.5% y/y
- Lower 48 total gas demand ~92.5 bcf, or +29% y/y
- Dry gas exports to Mexico ~6.0 bcf, or +0.2% w/w
- Estimated gas flows to LNG export terminals ~12.6 bcf, or +19% w/w
- See WHUT for a map of latest 6-10 day weather forecast: NOAA
- Click WFOR for temperature forecasts, click Browse, then Energy Market Regions then US Lower 48 and then Update
- European Gas Rises as Sanctions Stoke Energy Supply Concerns
- LNG Buyers Pause Purchases From Russia on Sanction Uncertainty
- Shell Quits Russia Gas Ventures as Political Pressure Mounts (2)
Weather:
Gas Market News:
©2022 Bloomberg L.P.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
