Commodities
Nat-Gas Prices Rise on Higher US Exports Amid Cooler Weather Forecasts
Natural gas prices rose on Monday as higher US exports to liquefied natural gas terminals reduced domestic supplies. Estimated LNG net flows to US export terminals reached 18.0 bcf/day, the highest in five days.
The gain was limited by forecasts for cooler US weather, which could reduce demand from electricity providers for air conditioning use. The Commodity Weather Group reported that temperatures are expected to remain normal across the eastern US through August 17.
US dry gas production on Monday was up 2.6% year-over-year at 112.5 bcf/day, while lower-48 state gas demand rose 14.7% y/y to 78.7 bcf/day, according to BNEF.