Register with us today

and in less than 60 seconds continue your access to: Latest news headlines Analytical topics and features Commodities videos, podcast & blogs Sample market prices & data Special reports Subscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Enter your Email ID below and we will send you an email with your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber (, Please navigate to Platts Market Center to reset your password.

In this list
Natural Gas

NYMEX August gas settles 3.2 cents lower despite wider storage deficit

Natural Gas | Oil

Mexico Energy Reform

Natural Gas | Oil

Platts Wellscape P2P

Asia Pacific Petroleum (APPEC)

Electric Power | Natural Gas

Factbox: US FERC actions on natural gas infrastructure

NYMEX August gas settles 3.2 cents lower despite wider storage deficit

Houston — The NYMEX August natural gas futures contract settled at $2.797/MMBtu Thursday, down 3.2 cents, after the US Energy Information Administration estimated a 51-Bcf build to gas inventories, widening the deficit to year-ago levels.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

The front-month contract traded between $2.789/MMBtu and $2.827/MMBtu on Thursday.

EIA's announcement earlier Thursday bumped stocks up to 2.203 Tcf for the week that ended July 6, but total stocks are 725 Bcf below year-ago levels and 519 Bcf below the five-year average.

The storage deficit persists, but the market is hesitant to respond as it has factored in record production seen in the last couple of weeks.

"There isn't an overwhelming fear that demand will not be met in the winter months," said David Thompson, executive vice president at Powerhouse Brokerage.

US dry gas production was expected to be 79.6 Bcf Thursday, and is expected to stay at about the same level over the next eight to 14 days, according to S&P Global Platts Analytics.

Total US supply so far this month has averaged 86.4 Bcf/d, up 8.4 Bcf/d compared with the year-ago period, according to Platts Analytics.

Total US demand -- excluding exports to Mexico and LNG exports -- fell 1.2 Bcf day on day Thursday, with power burn, which slipped 1 Bcf day on day, accounting for most of the change, according to Platts Analytics.

The most recent eight- to 14-day outlook from the National Weather Service calls for slightly higher-than-average temperatures for much of the US, although they will not reach the levels posted in recent weeks.

Midcontinent and Northeast demand both dropped 0.4 Bcf day on day Thursday.

Power burn fell 351 MMcf day on day in the Northeast Thursday, but is still averaging 8.485 Bcf/d thus far in July, 11% above its year-ago level, according to Platts Analytics.

The NYMEX settlement price is considered preliminary and subject to change until a final settlement price is posted at 7 pm EDT (2300 GMT).

--Arsalan Syed,

--Edited by Keiron Greenhalgh,