November Nymex Natural Gas (NGX25) on Tuesday closed +0.036 ( +1.10%).
The prices of Nov Nat-Gas joined a maximum of 2.25 months closest on Tuesday and settled higher in the prospects for the coldest climate of the United States next month to increase the demand for Nat-Gas heating. According to the atmospheric G2 forecast, the forecasts have changed cooler in the West for October 6 to 10, and a cooler general risk is expected in most of the USA. UU. For later in the period of October 10 to 14.
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The greatest production of US Nat-Uu. It has recently been a bearish factor for prices. Earlier this month, EIA increased its prognosis for the production of Nat-Gas gas from 2025 by +0.2% to 106.63 BCF/day from the estimate of August 106.40 BCF/day. The US-gas production. UU. It is currently near a record, with active Nat-Gas gas platforms recently publishing a maximum of 2 years.
The US dry gas production (under 48) on Tuesday was 107.9 BCF/day (+5.5% and/a), according to BNEF. The lower state gas demand of 48 on Tuesday was 70.4 BCF/day (-1.3% and/a), according to BNEF. The Net BLUDS of LNG estimated to the US LNG export terminals. UU. Tuesday were 15.7 BCF/day (+7.8% p/p), according to BNEF.
As a support factor for gasoline prices, the Edison Electric Institute reported last Wednesday that the production of electricity from the USA and/already 4,267,164 GWh.
The weekly EIA report last Thursday was neutral for Nat-Gas prices from Nat-Gas inventories for the week on September 19 increased +75 BCF, just above the market consensus of +74 BCF but below the weekly average of 5 years of +76 BCF. As of September 19, Nat-Gas inventories rose +0.5% and/y, and were +6.1% above their 5-year seasonal average, pointing out adequate Nat-Gas supplies. As of September 28, gas storage in Europe was full of 83%, compared to the 5 -year seasonal average of 89% full for this time of the year.
Baker Hughes reported last Friday that the number of active US gas drilling platforms. In the last year, the number of gas platforms has increased from the low of 4.5 years of 94 platforms reported in September 2024.
On the date of publication, Rich Asplund had no positions (directly or indirectly) in any of the values ​​mentioned in this article. All information and data in this article are only for informative purposes. This article was originally published at Barchart.com
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