July nymex natural gas (NGN25) On Wednesday, +0.138 ( +3.58%) closed.
On Wednesday, the prices of July Nat-Gas increased this week’s rally and climbed the closest flow of 2–1/2 months. The approach to swallowing US temperature, which will promote the demand for NAT-GAS from power providers to run air conditioning, is supporting prices. Forecaster Atmospheric G2 said on Wednesday that Outlook stays for a major heatwave in the eastern half of the US during the first half of next week.
Don’t remember one day: From crude oil to coffee, sign up free for the best-in-class commodity analysis of Barkart.
NAT-GAS prices remained higher on Wednesday, when the weekly Eia inventions increased +95 BCF, below the expectations of +97 BCF, but above the average of five years for this time of the year of +72 BCF.
Geophysical risks from Israel-Iran war also support the prices of nut-gasons on anxiety that any attempt by Iran to shut down the Straight of Hormuz can disrupt LNG shipment through the straight, which is responsible for about 20% of the global LNG trade.
According to BNEF, the lower -48 state dry gas production was 105.2 BCF/day (+2.4% y/y) on Wednesday. According to BNEF, on Wednesday, the demand for low-48 state gas was 73.4 BCF/Day (-4.6% y/y). According to BNEF, US LNG LNG export terminals on Wednesday had 13.8 BCF/Day in LNG LNG export terminals on Wednesday.
An increase in American power generation is positive for demand for NAT-GAS from utility providers. The Edison Electric Institute said on Wednesday that a total US (Lower -48) power generation in the week ended 14 June on June 14, 0.8% y/y to 85,329 GWH (Gigawatt hours) for 85,329 GWH (Gigawatt hours), and 4,246,808 GWH in the 52 -week period in the period of 52 -week on June 14 In the period of 52-week.
Wednesday’s weekly EIA report was mixed for net-gas prices as Net-Gas invention for the week ended June 13 was below the expectations of +97 BCF, but above the average construction of 5 years for this time of +72 BCF year. By June 13, NAT-GAS invention-8.0% y/y and +6.1% were above their 5-year seasonal average, indicating adequate NAT-GAS supply. In Europe, the gas storage was 54% filled till 16 June, for this time of the year 5-year seasonal average was 64% full.
Baker Hughes reported last Friday that the number of American Net -Gas drilling rigs active in the week ended June 13 fell from -1 to 113, which returned from the 15 -month high 114 rigs of the previous week. In the last nine months, the gas rigs have increased from the 4-year low of the 94 rigs posted in September 2024.
On the date of publication,
There were no securities mentioned in this article (either direct or indirectly). All information and data in this article is only for informative purposes. For more information, please see the Barcart Disclosure Policy
Here,
The idea and opinion expressed here are the idea and opinion of the author and not necessarily Nasdac, Inc.
