West spot slides amid relatively flat demand

摘要

1.1US West spot gas prices slid across most indexes July 30 amid relatively flat demand as temperatures stayed near seasonal norms. 1.2Cheyenne Hub shed 2 cents on the day to $1.64/MMBtu, while Kern River, delivered fell 15 cents on the day to $2.30/MMBtu for flows July 31. 1.3West demand is set to total 10.6 Bcf July 31, relatively flat on the day and largely in line with the three-year average observed in July, according to data from S&P Global Platts Analytics. Demand is projected to tick up over the next two weeks averaging about 10.5 Bcf/d. 1.4The National Weather Service forecast calls for normal to slightly warmer-than-average temperatures across much of the region over the next eight to 14 days. 2.1Looking to Permian basin gas production in July, output averaged 11.5 Bcf/d, up 400 MMcf from year-ago levels as the region saw some rebound in production as crude prices hovered around $40/b during the same time.