Commodities
Natural Gas Prices Consolidate Amid Record Production and Middle East Risks
Natural gas prices are consolidating around $2.75/MMBtu as record US production and elevated inventories offset concerns about Middle East risks.
The September Nymex futures contract closed at $2.690/MMBtu on August 18, down 1.6% from the previous session.
Lower 48 production in August is holding near a record 111.3 billion cubic feet per day, while gas flows to the nine largest LNG export terminals are running at around 17.1 billion cubic feet per day, slightly below July levels.
The Hormuz disruptions and its impact on global LNG supply remain critical for Qatar and the UAE, which together account for around one-fifth of global LNG export capacity.