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US Natural Gas Market: Fundamental Insights for Investors

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Part 5
US Natural Gas Market: Fundamental Insights for Investors PART 5 OF 5

Decoding Weekly US Natural Gas Production and Consumption

Weekly US natural gas production 

According to PointLogic, weekly US dry natural gas production fell 0.13% to 72 Bcf (billion cubic feet) per day on July 20–26, 2017. However, production rose 2% YoY (year-over-year). Natural gas imports from Canada fell week-over-week and YoY. For details on monthly natural gas production, read US Natural Gas Production Is near a 2-Year Low. 

The YoY rise in production has a negative impact on natural gas (BOIL) (FCG) prices. Lower natural gas prices have a negative impact on natural gas producers’ profitability like Newfield Exploration (NFX) and Gulfport Energy (GPOR).

Decoding Weekly US Natural Gas Production and Consumption

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Weekly US natural gas consumption

US natural gas consumption rose 1.6% on July 20–26, 2017. Consumption fell 5.5% YoY. The YoY fall in natural gas consumption would have a negative impact on natural gas (UNG) (GASL) prices. US natural gas exports to Mexico were flat at 4.3 Bcf per day on July 20–26, 2017. US natural gas exports to Mexico have risen 4.8% YoY.

Impact 

President Trump’s energy policies could drive natural gas production. Production could surpass consumption in 2017. Long-term fundamentals suggest that consumption could rise, which would benefit natural gas prices. The EIA estimates that US natural prices could average $3.10 per MMBtu in 2017. For more on the natural gas price forecast, read Hedge Funds’ Net Long Positions on US Natural Gas Rose.

Read Crude Oil Futures Are near a 2-Month High and OPEC, Saudi Arabia, and the US Dollar Impact Crude Oil Prices to learn more about crude oil.

For more information on crude oil price forecasts, read Hedge Funds’ Net Long Positions in US Crude Oil Rose Again.

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