NATGAS
US Natgas Prices Edge Down

US natural gas prices fell to $3.25 per MMBtu, retreating from a three-week high of $3.3 hit on June 25, as cooling weather forecasts signaled a drop in air-conditioning demand and gas-fired electricity consumption. Despite this near-term price drop, raw data shows that export fundamentals remain robust. Average daily flows to major liquefied natural gas export terminals on the US Gulf Coast rose to 17.3 billion cubic feet so far in June, up from 17.1 billion cubic feet in May. This export growth was heavily supported by record feedgas activity at the Golden Pass facility in Texas. Meanwhile, domestic production across the Lower 48 states has been steady, averaging 109.7 billion cubic feet per day throughout June.
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