Production and Consumption Trendsĭomestic gas production has achieved new records, with daily output reaching unprecedented levels. Despite high European storage levels, the continent’s shift away from Russian energy has led to an increased reliance on U.S. Asia, while still a significant buyer, showed signs of purchase hesitancy, likely due to recent price surges. LNG amidst reduced pipeline supplies from Russia and geopolitical tensions. This increase comes as Europe intensifies its intake of U.S. ![]() liquefied natural gas (LNG) surged in October, nearing record highs. Exports Surge and European DemandĮxports of U.S. This aligns with the trend of an above-average 80 Bcf addition to the storage last week. An anticipated increase in storage was forecasted as milder weather conditions reduced the need for heating. ![]() The Energy Information Administration (EIA) reported a rise in working gas storage, with levels currently 293 Bcf above last year’s figures and 205 Bcf higher than the five-year average. A brief cold spell is predicted near the Canadian border with highs in the 30s, which may only marginally affect demand late in the week. The northern US will see comfortable highs between the 40s and 60s, while the south can expect a range of 60s to 80s. Weather Influence on DemandĪccording to NatGasWeather for November 3-9, the forecast across the United States leans towards warmer-than-average temperatures, which is expected to dampen national demand for natural gas. This volatility was largely influenced by weather projections and supply adjustments, presenting a mixed picture for market participants. ![]() Natural gas futures experienced a 0.92% rise last week amidst a tumultuous trading landscape, marked by an initial downturn at the week’s start and a robust rally on Tuesday, followed by fluctuating performances as the week progressed. Variable weather drives NatGas market volatility.LNG exports soar, Europe’s demand intensifies. EIA: NatGas storage up 293 Bcf from last year’s level.weather to curb NatGas demand this November. NatGas futures rose 0.92%, showing a volatile week of trade.
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