{"id":373910,"date":"2025-12-28T22:17:10","date_gmt":"2025-12-28T22:17:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/373910\/"},"modified":"2025-12-28T22:17:10","modified_gmt":"2025-12-28T22:17:10","slug":"natural-gas-news-weather-forecast-sparks-reversal-as-futures-eye-counter-trend-rally","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/373910\/","title":{"rendered":"Natural Gas News: Weather Forecast Sparks Reversal as Futures Eye Counter-Trend Rally"},"content":{"rendered":"<p>The EIA said last week that its weekly storage report was rescheduled from December 24 to December 29 at 17:00 GMT due to the Christmas holiday. Pre-report consensus estimates are calling for a decline of 169 Bcf, which would be a larger drop than the 5-year average for the week of -110. As of December 12, natural gas inventories were down 1.2% y\/y and were +0.9% above their 5-year seasonal average, signaling adequate natural gas supplies.<\/p>\n<p>Production Remains Elevated Despite Bearish Fundamentals<\/p>\n<p>In addition to the EIA storage report and weather forecast, natural gas traders were also eyeing production numbers. U.S. (lower-48) dry gas production stands at 113.2 Bcf\/day as of Friday, putting it up 7.9% for the year.<\/p>\n<p>This daily figure aligns with the EIA forecast from December 9, which raised the estimate for 2025 U.S. natural gas production to 107.74 Bcf\/day, up from its November estimate of 107.70 Bcf\/day. Production is currently near a record high, with active rigs recently posting a 2-year high, according to Baker Hughes.<\/p>\n<p>On Tuesday, <a href=\"https:\/\/rigcount.bakerhughes.com\/\" rel=\"noopener noreferrer nofollow\" target=\"_blank\">Baker Hughes<\/a> reported that the number of active natural gas drilling rigs in the week-ending December 26 remained unchanged at 127, a little below the 2.25-year high of 130 reached on November 28. The number of gas rigs in 2025 is set to finish the year higher, rebounding from a 4.5-year low of 94 rigs reported in September 2024.<\/p>\n<p>Demand Picture Shows Mixed Signals<\/p>\n<p>On the demand side, lower-48 gas demand on Friday was 87.5 Bcf\/day (-3.2% annually), according to BNEF (BloombergNEF). BNEF also estimated LNG net flows to U.S. LNG export terminals on Friday at 19.1 Bcf\/day or unchanged for the week.<\/p>\n<p>LNG demand may have also been impacted by the news that as of December 17, gas storage in Europe was 68% full, compared to the 5-year seasonal average of 78% full for this time of year. This below-average storage level suggests Europe may need to increase imports, potentially supporting U.S. LNG export demand.<\/p>\n","protected":false},"excerpt":{"rendered":"The EIA said last week that its weekly storage report was rescheduled from December 24 to December 29&hellip;\n","protected":false},"author":2,"featured_media":373911,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[45,49,48,17679,31700,84829,31702,4740,31703,63605],"class_list":["post-373910","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ca","tag-canada","tag-commodities","tag-fundamental","tag-home-page-2","tag-james_gas_forecast","tag-natural-gas","tag-technical","tag-weekly"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/373910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=373910"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/373910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/373911"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=373910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=373910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=373910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}