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UNL - Natural Gas Fundamentals: Henry Hub Natural Gas Is Becoming A Global Commodity
United States 12 Month Natural Gas Fund
Before delving into the details of global LNG trade, let's first look at the latest U.S. natural gas fundamentals. This report covers the week ending June 21, 2019.
Total Demand
We estimate that aggregate demand for American natural gas (consumption + exports) totaled around 571 bcf for the week ending June 21 (up 3.5% w-o-w and up 3.4% y-o-y). The deviation from the norm remained positive but increased only slightly from +13.70% to +14.0% (see the chart below).
Source: Bluegold Research estimates and calculations
This week, the weather conditions have cooled down across the Lower-48