
(Bloomberg) -- US natural gas futures were up slightly as near-term forecasts showed hotter weather in the coming weeks, indicating increased cooling demand for the power-plant fuel as consumers crank up air-conditioning.
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Gas demand for liquefied natural gas exports also reached the highest since late June, as maintenance wrapped up at the Freeport LNG facility in Texas last week. The site's return from repair work adds to demand for feedgas.
Gains were likely limited by robust production over the weekend with output reaching near-high record levels for the year.
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Futures for October delivery +0.7c, or +0.2%, to $2.895/mmbtu on Nymex, as of 10:37am ET
Weather:
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Near-term forecasts show triple-digit temperatures in southern and eastern US and across most East Coast cities Aug. 31-Sept. 5: NatGasWeather.com
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One outlook showed 11 fewer cooling-degree days, which measure how much and for how long temperatures stay above a certain threshold, equating to the demand needed to cool down buildings
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See WHUT for a map of latest 6-10 day weather forecast: NOAA
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Click here for two-week temperature forecasts for the U.S.
Daily BNEF Gas Data:
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Lower-48 dry gas production on Monday ~114.6 bcf/day, or +5.9% y/y
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Lower-48 total gas demand on Monday ~78.4 bcf/day, or +17.8% y/y
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Dry gas exports to Mexico on Monday ~7.9 bcf/day, or -1.7% w/w
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Estimated gas flows to LNG export terminals on Monday ~19.6 bcf/day, or +15.8% w/w
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