Nat-Gas Prices Plunge on Cooler US Forecasts and EIA Production Forecast Increase

Nymex (NGU25) natural gas (NGU25) fell sharply on Tuesday by -0.146 (-4.94 %).

Sep Nat Gas fell on Tuesday to the lowest level in 9 months on the closest chart. Nat gas prices fell on temperatures. G2 said in the atmosphere that predictions turned cold in the northeast and southeast on August 17-21, although expectations are heading towards warmth across the Middle West and Northeast on August 22-26.

Another declining factor for NAT-GAS prices on Tuesday was the high environmental impact assessment in its forecast for the production of 2025 United States NAT GAS by +0.5 % to 106.44 BC/a day of the estimate of July 105.9 BC/day. The environmental impact evaluation raised its forecast for the production of 2026 US nat GAS by +0.7 % to 106.09 of 105.4 BC expectations per day. Nat Gas production is currently in the United States near a record level, as Nat Gas Active Active has recently published the highest level in two years.

Dry gas production in the lower state was 48 on Tuesday 108.6 BC/Day (+5.6 % on an annual basis), according to Bnef. The demand for state gas was less than 48 on Tuesday, 78.2 BC/day (+1.9 % year), according to Bnef. The liquefied natural flows of LNG were estimated at the American LNG export stations on Monday 15.4 BC (-3.7 % w/s), according to Bnef.

An increase in the production of electricity in the United States is positive for the NAT-GAS request from service providers. The Edison Electricity Institute reported last Wednesday that the total electricity output in the United States (less than 48) in the week ended August 2, increased +0.9 % on an annual basis to 99,367 GB, Gigawatt, and the removal of electricity in the United States in the 52 -week period ending August 2 +2.7 % Y/Y to 4,259,351 GWH.

Last Thursday, the weekly EIA report was up to NAT-GAS prices since NAT-GAS stocks on August 1 +7 BCF rose, less than the consensus +12 BCF and an average of 5 years from +29 BCF for this week. As of August 1, NAT -GAS -4.3 % stocks on an annual basis, but were +5.9 % higher than their seasonal average for 5 years, indicating enough NAT GAS supplies. As of August 9, the storage of gas in Europe was 72 % full, compared to the seasonal average for 5 years with a full 79 % for this time of the year.

Baker Hughes said last Friday that the number of drilling platforms in the active United States in the week ending August 8 decreased by 1 to 123 platforms, and slipped from the highest level from 124 of games on August 1. In the past ten months, the number of gas platforms has risen from less than 4 years from 94 informed platforms in September 2024.

On the date of publication, Rich Asplund did not have positions (either directly or indirectly) in any of the securities mentioned in this article. All information and data in this article are only for media purposes. This article was originally published on Barchart.com