US natural gas futures rose to $2.87/MMBtu on Friday, rebounding from a nine-month low of $2.808 on August 12 on forecasts for stronger near-term demand and the near-full return of Freeport LNG’s Texas export plant after a brief outage. LNG feedgas flows averaged 16.2 bcfd so far in August, up from 15.5 bcfd in July. Despite the recovery, prices remain set for a fourth weekly drop as EIA data showed a 56 bcf storage build for the week ended August 8, well above seasonal norms, leaving inventories ~7% above the five-year average. Output in the Lower 48 hit 108.1 bcfd so far this month, topping July’s record. Weather is expected to stay hotter than normal through late August, though Tropical Storm Erin, which is forecast to become a major hurricane en route to the Bahamas, could cool the US East Coast and disrupt conditions.
Manage Consent
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.
The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.