Stronger US Production Knocks Nat-Gas Prices Lower

August Nymex natural gas (NGQ26) on Monday closed down -0.098 (-2.99%).

Nat-gas prices fell to a 1-week low on Monday and settled sharply lower.  Ramped-up US nat-gas production is weighing on prices after output in the lower-48 US states rose to nearly 114 bcf/day on Sunday, the most in more than 2.5 months.

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Nat-gas prices recovered from their worst level on Monday amid forecasts for hot US weather, potentially boosting nat-gas demand from electricity providers to power air-conditioning.  The Commodity Weather Group on Monday said forecasts shifted hotter, with above-average temperatures expected across the eastern half of the US through July 3.

US (lower-48) dry gas production on Monday was 111.2 bcf/day (+2.3% y/y), according to BNEF.  Lower-48 state gas demand on Monday was 75.4 bcf/day (+3.3% y/y), according to BNEF.  Estimated LNG net flows

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/commodities/articles/stronger-us-production-knocks-nat-191244269.html)