Natural Gas Futures Market News and Commentary
October Nymex natural gas (NGV23) on Monday closed +0.002 (+0.08%).
Nat-gas prices Monday closed slightly higher on a mixed weather outlook. According to forecaster Maxar Technologies, above-normal temperatures are expected in the central U.S., moderate temperatures in the east, and cooler temperatures in the west from September 30-October 4. U.S. nat-gas prices had carryover support from a rally in European nat-gas prices Monday to a 3-1/4 month high.
Lower-48 state dry gas production Monday was 100.9 bcf/day (+1.3% y/y), according to BNEF. Lower-48 state gas demand Monday was 67.5 bcf/day, +13.2% y/y, according to BNEF. LNG net flows to U.S. LNG export terminals Monday were 12.0 bcf/day or -9.0% w/w.
High inventories caused by carryover from the mild 2022/23 winter and weak heating demand have undercut nat-gas prices. Gas storage across Europe was 94% full as of September 18, well above the 5-year seasonal average of 85% full for this time of year. U.S. nat... Read more
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October Nymex natural gas (NGV23 ) on Monday closed +0.002 (+0.08%). Nat-gas prices Monday closed slightly higher on a mixed weather outlook. According...
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