By Sing Yee Ong
US natural gas futures dropped to the lowest since late October amid forecasts for warmer temperatures next week, which is likely to reduce demand for the fuel.
Futures for February delivery declined as much as 5.9% to $3.404/mmbtu in early Asian trading on Monday
The contract was at $3.470/mmbtu as of 9:03 a.m. in Singapore
Weather:
Large parts of western US will see warmer-than-normal temperatures from Jan. 12-18, according to an outlook from NOAA
See WHUT for a map of latest 6-10 day weather forecast: NOAA
Daily BNEF Gas Data:
Lower-48 dry gas production on Sunday ~110.6 bcf/day, or +6% y/y
Lower-48 total gas demand on Sunday ~99.5 bcf/day, or -6.7% y/y
Dry gas exports to Mexico on Sunday ~3.8 bcf/day, or -33% w/w
Estimated gas flows to LNG export terminals on Sunday ~20 bcf/day, or +3% w/w
Gas Market News:
Share This:
More News Articles