Nat-Gas Prices Sink as Cooler US Temps Dampen | U.S. Finance News
September Nymex natural gasoline (NGU25) on Friday closed down -0.128 (-4.53%).Sep nat-gas costs sank to a 9.5-month nearest-futures low Friday and settled sharply decrease on the prospects of cooler US temperatures lowering demand for nat-gas to energy air-con. On Friday, Forecaster Atmospheric G2 stated that forecasts shifted cooler within the japanese and southern US for August 27-31, and shifted cooler throughout the center of the nation for September 1-5.
Don’t Miss a Day: From crude oil to espresso, signal up free for Barchart’s best-in-class commodity evaluation. Ramped-up US nat-gas manufacturing is one other bearish issue for costs. Last Tuesday, the EIA raised its forecast for 2025 US nat-gas manufacturing by +0.5% to 106.44 bcf/day from July’s estimate of 105.9 bcf/day. The EIA raised its forecast for 2026 US nat-gas manufacturing by +0.7% to 106.09 from July’s 105.4 bcf/day forecast. US nat-gas manufacturing is at present close to a report high, with lively US nat-gas rigs lately posting a 2-year high.US (lower-48) dry gasoline manufacturing on Friday was 108.4 bcf/day (+6.3% y/y), in accordance with BNEF. Lower-48 state gasoline demand on Friday was 77.9 bcf/day (+9.8% y/y), in accordance with BNEF. Estimated LNG web flows to US LNG export terminals on Friday have been 15.7 bcf/day (+0.4% w/w), in accordance with BNEF.As a supportive issue for gasoline costs, the Edison Electric Institute reported Wednesday that US (lower-48) electrical energy output within the week ended August 16 rose +7.1% y/y to 99,160 GWh (gigawatt hours), and US electrical energy output within the 52-week period ending August 16 rose +2.7% y/y to 4,264,139 GWh.Thursday’s weekly EIA report was bullish for nat-gas costs since nat-gas inventories for the week ended August 15 rose +13 bcf, beneath the consensus of +18 bcf and effectively beneath the 5-year weekly average of +35 bcf. As of August 15, nat-gas inventories have been down -3.0% y/y, however have been +5.8% above their 5-year seasonal average, signaling enough nat-gas provides. As of August 19, gasoline storage in Europe was 74% full, in comparison with the 5-year seasonal average of 82% full for this time of 12 months.
Baker Hughes reported Friday that the quantity of lively US nat-gas drilling rigs within the week ending August 22 was unchanged at 122 rigs, just under the 2-year high of 124 rigs posted on August 1. In the previous 12 months, the quantity of gasoline rigs has risen from the 4-year low of 94 rigs reported in September 2024.
On the date of publication,
Rich Asplund
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