On Wednesday, July Nymex natural gas prices closed at $4.00, increasing by +0.138 (+3.58%). This rise marks a 2-1/2 month high, driven by forecasts of upcoming heatwaves in the eastern US, expected to boost demand from electricity providers.
In the week ending June 13, US natural gas inventories rose by +95 billion cubic feet (bcf), falling short of the anticipated +97 bcf but surpassing the five-year average increase of +72 bcf. Current inventories are down -8.0% year-over-year but are +6.1% above the five-year average.
US natural gas production on Wednesday was reported at 105.2 bcf/day (+2.4% year-over-year), while demand fell to 73.4 bcf/day (-4.6% year-over-year). Additionally, LNG net flows to US export terminals were 13.8 bcf/day, reflecting a decrease of -2.7% week-over-week.
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