August Nymex Natural Gas (NGQ25) On Monday -0.283 (-7.57%) closed down rapidly.
On Monday, August Nut-Gas prices speculate that cooler will curb the demand for nut-gass in power providers from power providers to power providers from power providers to power air conditioning and allow American Net-Gais inventory to reconstruct. Forecaster Atmospheric G2 said on Monday that the forecast transferred the cooler to the entire Central and Eastern US for 10–14 July. As of June 20, the EIA Nut-Gas invention was +6.6% above their 5-year seasonal average, indicating sufficient net-gas supply. The prices of NAT-GAS were also reduced to the low-lying level of European NAT-GAS on Monday to a low of 8-week.
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According to BNEF, Lower -48 state dry gas production on Monday was 107.4 BCF/Day (+3.9% y/y). According to BNEF, on Monday, the demand for low-48 state gas was 74.3 BCF/Day (+6.7% Y/Y). According to BNEF, the estimated LNG net flow for US LNG export terminals on Monday was 14.7 BCF/Day (+9.2% W/W).
The decline in US power generation is negative for demand for NAT-GAS from utility providers. The Edison Electric Institute said last Wednesday that the total US (Lower -48) power generation ended on June 21 in the week ended June 21 -91,334 GWH (GWH) fell at 3.1% y/y, although US power generation during the 52 -week period ended June 21 +2.6% Y/Y Y/Y to 4,243,923 GWH.
Last Thursday’s weekly EIA report was a slowdown for the prices of NAT-Gais as Net-Gais Inventory +88 for the week ended June 20 was above the consensus of the BCF and average of 5 years for the week of +79 BCF. By June 20, NAT-GAS inventions were-6.6% y/y were below, but their 5-year-old season was +6.6% above average, indicating adequate NAT-GAS supply. By June 23, gas storage in Europe was 57% full, compared to this time of 5-year-old seasonal 66% for this time of the year.
Baker Hughes reported last Friday that the number of American Net -Gas drilling rigs active in the week ended June 27 fell from -2 to 109 rigs, slightly below the 15 -month high of 114 rigs from 6 June. In the last nine months, the gas rigs have increased from a 4 -year low of 94 rigs posted in September 2024.
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