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Oil report

UPDATE 3-U.S. natgas futures rise near 2% as output falls ahead of Hurricane Sally

 (Adds latest prices)
    Sept 14 (Reuters) - U.S. natural gas futures rose near 2% on Monday as liquefied natural gas
exports continued to rise and output dipped as Gulf Coast producers shut some production before
Hurricane Sally smashes into the Gulf Coast.
    Sally is expected to hit near the Louisiana-Mississippi border early on Tuesday. Entergy Corp
, the biggest power company in Louisiana and Mississippi, still has about 50,000 customers
without service from Hurricane Laura in southwestern Louisiana since late August.
    After falling to a four-week low last week, front-month gas futures rose 4.1 cents, or 1.8%,
to settle at $2.310 per million British thermal units.
    Data provider Refinitiv said output in the Lower 48 U.S. states was on track to slide to a two-week
low of 86.1 billion cubic feet per day on Monday due to a near 1-billion-cubic-feet-per-day (bcfd)
decline in the Gulf Coast.
    Traders noted futures rose despite a decline in overall demand as the weather turns mild.
    Refinitiv projected demand, including exports, would slide from 85.3 bcfd this week to 82.4 bcfd
next week.
    The amount of gas flowing to U.S. LNG export plants, meanwhile, was on track to average 5.1 bcfd in
September. That is the most in a month since May and up for a second month in a row for the first time
since hitting a record high of 8.7 bcfd in February.
    The LNG-export gain comes as Cheniere Energy Inc's Sabine Pass in Louisiana ramps up after
shutting in late August for Hurricane Laura and as global gas prices rise, making U.S. gas more
attractive in Europe and Asia following months of U.S. cargo cancellations due to
coronavirus demand destruction.
    Cameron LNG's export plant in Louisiana, however, has remained shut since Aug. 27 due to lingering
power outages from Laura. Some analysts say the plant could remain shut through mid October.

                    
                                       Week ended     Week ended    Year ago   Five-year   
                                         Sep 11         Sep 4        Sep 11     average    
                                       (Forecast)      (Actual)                  Sep 11    
 U.S. natgas storage (bcf):                +70           +70          +82         +77 Refinitiv Heating (HDD), Cooling (CDD) and Total (TDD) Degree Days                        
 Two-Week Total Forecast               Current Day    Prior Day    Prior Year   10-Year    30-Year Norm
                                                                                  Norm     
 U.S. GFS HDDs                             48             33           14          24           45
 U.S. GFS CDDs                             79            101          149         130           95
 U.S. GFS TDDs                             127           134          163         154          140
                                                                                           
 Refinitiv U.S. Weekly GFS Supply and Demand Forecasts                                     
                                       Prior Week    Current Week  Next Week   This Week    Five-Year
                                                                               Last Year   Average For
                                                                                              Month
 U.S. Supply (bcfd)
 U.S. Lower 48 Dry Production             88.4           87.2         87.3        93.3         79.7
 U.S. Imports from Canada                  5.8           6.2          6.7         7.8          7.9
 U.S. LNG Imports                          0.0           0.0          0.0         0.0          0.1
 Total U.S. Supply                        94.2           93.4         94.0       100.0         87.7
 
 U.S. Demand (bcfd)
 U.S. Exports to Canada                    2.1           2.2          2.2         2.5          2.3
 U.S. Exports to Mexico                    6.0           5.8          6.0         5.6          4.5
 U.S. LNG Exports                          4.8           6.9          6.8         6.5          2.1
 U.S. Commercial                           4.8           4.9          5.4         4.7          4.7
 U.S. Residential                          4.0           4.2          4.1         3.8          3.7
 U.S. Power Plant                         34.3           33.5         29.0        35.8         32.0
 U.S. Industrial                          21.6           21.5         21.7        21.2         20.6
 U.S. Plant Fuel                           4.4           4.3          4.3         4.3          4.4
 U.S. Pipe Distribution                    1.9           1.9          1.8         1.9          1.9
 U.S. Vehicle Fuel                         0.1           0.1          0.1         0.1          0.1
 Total U.S. Consumption                   71.0           70.4         67.4        71.3         67.4
 Total U.S. Demand                        84.0           85.3         82.4        86.4         76.3 SNL U.S. Natural Gas Next-Day Prices ($ per mmBtu)                                        
 Hub                                   Current Day    Prior Day                            
 Henry Hub NG-W-HH-SNL                  1.93           2.13                              
 Transco Z6 New York NG-CG-NY-SNL       1.26           1.43                              
 PG&E Citygate NG-CG-PGE-SNL            3.27           3.46                              
 Dominion South NG-PCN-APP-SNL          1.16           1.38                              
 Chicago Citygate NG-CG-CH-SNL          1.78           1.88                              
 Algonquin Citygate NG-CG-BS-SNL        1.50           2.20                              
 SoCal Citygate NG-SCL-CGT-SNL          1.87           2.26                              
 Waha Hub NG-WAH-WTX-SNL                1.41           1.50 SNL U.S. Power Next-Day Prices ($ per megawatt-hour)                                      
 Hub                                   Current Day    Prior Day                            
 New England EL-PK-NPMS-SNL             18.50         23.00                              
 PJM West EL-PK-PJMW-SNL                18.50         23.50                              
 Ercot North EL-PK-ERTN-SNL             23.50         22.00                              
 Mid C EL-PK-MIDC-SNL                   24.50         25.50                              
 Palo Verde EL-PK-PLVD-SNL              45.80         27.50                              
 SP-15 EL-PK-SP15-SNL                   27.75         32.25                              
 
 (Reporting by Scott DiSavino; Editing by Andrea Ricci, Dan Grebler and Jonathan Oatis)
  
 
 
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