S&P 500 — US Large Cap Index
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Hang Seng — Hong Kong Index
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STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
US natural gas prices dropped to $2.62 per MMBtu, the lowest level since April, pressured by a larger-than-expected build-up in storage. The EIA report showed energy firms injected 33 bcf of gas into storage in the week ended July 31, exceeding forecasts of a 31 bcf increase, last year’s 13 bcf build, and the five-year average rise of 23 bcf. On top of that, production remained near record highs despite a slight easing, with Lower 48 dry gas output averaging 110.6 bcfd so far in August, compared with a record 110.7 bcfd in July. LNG feedgas demand also continued to weaken, with average flows to the nine major LNG export plants falling to 16.9 bcfd so far this month from 17.2 bcfd in July, due partly to reduced operations at Freeport LNG in Texas and the single operating liquefaction train at Golden Pass. These factors more than offset support from expectations of higher weather-driven demand, with forecasts pointing to mostly above-normal temperatures through August 21.
