HomeIndustriesNatural Gas Futures Down as LNG Exports Dwindle

Natural Gas Futures Down as LNG Exports Dwindle

U.S. natural gas futures declined by approximately 2% on Tuesday amid lower gas flows to domestic liquified natural gas (LNG) plants. The downfall comes as milder weather forecasts drive down demand for heating.

Power generated by gas countrywide rose by 43% over the past week. This came as wind power generation slumped to just 5%, thereby forcing an uptick in power generation through gas in order to keep up with electricity demands.

Front-month gas futures for July delivery on the New York Mercantile Exchange declined by 1.9%, or 4.3 cents, to $2.202 per million British thermal units (mmBtu). A growing interest in the energy industry as well as the downward trend in prices has sparked investor interest, with interest in NYMEX gas futures rising to 1.389 million contracts on Monday; the most since September 2021.

According to Refinitiv data, U.S. gas demand is forecast to fall from 95.4 bcfd this week to 94.1 bcfd next week. This comes after U.S. exports to Mexico increased to an average of 7.5 bcfd so far in June, compared to 5.9 bcfd in May.

Marriott Projects Revenue Growth Amid Resilient Travel Demand

Marriott International forecasted on Wednesday that 3% to 6% growth in its annualized global revenue per available room for the two years ending 2025 as the...

Dollar and Stocks Steady as Bonds Ease From Record Highs

The U.S. dollar and stocks in New York stabilized on Wednesday, while U.S. Treasury Yields retreated from their 16-year high, easing pressure on the...

New Home Sales Plummet in August

Sales of new U.S. single-family homes plunged in August as the 30-year mortgage rate rose past 7%, thereby discouraging would-be buyers. According to data...