US natural gas prices fall 2% on lower demand forecast, higher output expectations
November gas futures fell 2.0% to $3.043 per mmBtu as forecasts pointed to weaker demand this week and higher output after the Mountaineer XPress pipeline returned to service. Analysts estimated US gas inventories at 2.4% above the five-year average for the week ended September 25.
4 bcfd over the past week By Scott DiSavino NEW YORK, Sept 29 (Reuters) — US natural gas futures slid 2% on Tuesday on forecasts for less demand this week than previously expected and the market's belief that daily output will soon rise after the Mountaineer XPress pipe in West Virginia returned to service last weekend. 043 per million British thermal units (mmBtu) on Tuesday. 3 bcfd in August. 4 bcfd, due in part to the force majeure Canadian energy firm TC Energy's Columbia Gas Transmission unit declared on the Mountaineer XPress pipe on September 24.
8 bcfd of gas flows. 7% above normal in April. But hotter-than-normal weather over the summer forced energy firms to pull lots of gas from storage to fuel power plants needed to keep air conditioners humming, cutting the inventory surplus. About 40% of US power generation comes from gas-fired plants.
9% above normal in the previous week, according to estimates ahead of Thursday's weekly federal inventory report. EIA/GAS NGAS/POLL Looking forward, however, meteorologists predicted average weather across the country will remain mostly near normal through October 14. 1 bcfd next week as the weather turns seasonally cooler. The forecast for this week was lower than LSEG's outlook on Monday.
8 bcfd in April. 8-bcfd Cove Point LNG export plant in Maryland around September 19 for a few weeks of annual maintenance. Around the world, gas traded near $23 per mmBtu at the Dutch Title Transfer Facility benchmark in Europe and $26 at the Japan-Korea Marker benchmark in Asia. net/)