Natural Gas Jan '19 (NGF19)
Natural Gas Futures Market News and Commentary
September Nymex natural gas (NGU26) on Thursday closed down -0.081 (-2.88%).
Nat-gas prices fell sharply on Thursday amid forecasts for cooler US temperatures, potentially reducing nat-gas demand from electricity providers to power air conditioning. The Commodity Weather Group said on Thursday that forecasts trended cooler, shifting away from very hot weather previously forecast for the US South in the coming weeks.
Nat-gas prices extended their losses on Thursday after weekly EIA nat-gas inventories rose more than expected. The EIA reported that nat-gas inventories rose by +16 bcf for the week ended August 14, higher than expectations of +14 bcf.
US (lower-48) dry gas production on Thursday was 112.1 bcf/day (+2.8% y/y), according to BNEF. Lower-48 state gas demand on Thursday was 83.4 bcf/day (+5.7% y/y), according to BNEF. Estimated LNG net flows to US LNG export terminals on Thursday were 17.5 bcf/day (-2.5% w/w), according to BNEF.
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