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According to foreign media on July 9, the August natural gas futures contract on the New York Mercantile Exchange fell 3 cents on Monday to close at $2.
828 / MMBtu
.
The day before, U.
S
.
dry gas production hit a new high, despite record-breaking levels of electricity burn in the first nine days of July.
Register now that the contract from this month ago traded between $2.
817/MMBtu and $2.
8365/MMBtu on Monday
.
Four of the last 10 days of U.
S.
dry gas production have seen record increases as the U.
S.
gas reserve deficit continues
.
Data from the US Energy Information Administration showed total storage was 717 barrels lower than a year ago and 493 barrels
below the five-year historical average.
U.
S.
dry gas production is expected to reach 80.
6 Bcf on Monday, down 0.
4 Bcf
from the latest record released Sunday, according to S&P Global Platts analysis.
According to Platts Analytics, total U.
S.
supply averaged 86.
6 Bcf/d in July, up 8.
7 times
from a year earlier.
Although high temperatures have led to a rise in demand and total inventories well below historical averages, the market has not reacted very much because the market is experiencing a massive influx of production
.
According to foreign media on July 9, the August natural gas futures contract on the New York Mercantile Exchange fell 3 cents on Monday to close at $2.
828 / MMBtu
.
The day before, U.
S
.
dry gas production hit a new high, despite record-breaking levels of electricity burn in the first nine days of July.
Register now that the contract from this month ago traded between $2.
817/MMBtu and $2.
8365/MMBtu on Monday
.
Four of the last 10 days of U.
S.
dry gas production have seen record increases as the U.
S.
gas reserve deficit continues
.
Data from the US Energy Information Administration showed total storage was 717 barrels lower than a year ago and 493 barrels
below the five-year historical average.
U.
S.
dry gas production is expected to reach 80.
6 Bcf on Monday, down 0.
4 Bcf
from the latest record released Sunday, according to S&P Global Platts analysis.
According to Platts Analytics, total U.
S.
supply averaged 86.
6 Bcf/d in July, up 8.
7 times
from a year earlier.
Although high temperatures have led to a rise in demand and total inventories well below historical averages, the market has not reacted very much because the market is experiencing a massive influx of production
.
