Natural Gas Market Indicators – July 15, 2021
This year, summer temperatures have been warmer than normal with gas volumes to power generation averaging 37.9 Bcf per day in July. Residential/commercial and industrial demand volumes are above 2020 levels, up 0.5 and 0.7 Bcf per day, respectively. The result is a draw-back in weekly storage injections as additional gas is needed to meet the increase in summer demand and LNG and pipeline export volumes. As the hurricane season continues and warmer forecasts appear likely to continue in the near term, cooling demand is likely to remain high and at the expense of storage injections. We will continue to track natural gas prices, which are currently trading above $3.60 per MMBtu as of July 14.
Read more about this week’s Natural Gas Market Indicators here and explore the archive here.