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UPDATE 2-U.S. natgas rangebound after storage build just above forecasts

 (Updates prices to settlement)
    Aug 25 (Reuters) - U.S. natural gas futures were locked in a
tight range in choppy trade on Thursday after a federal report
showed a weekly storage build very slightly above expectations.
    The U.S. Energy Information Administration said utilities
added 60 billion cubic feet (bcf) of gas to storage during the
week ended Aug. 19, just above the 58 bcf build analysts
forecast in a Reuters poll.
    Front-month September gas futures rose 4.5 cents, or
0.5%, to settle at $9.375 per million British thermal units
(mmBtu).
    John Abeln, an analyst with data provider Refinitiv, said
prices could remain volatile in relatively low volume trading as
the September contract heads to expiry.
    Prices hit $10 per mmBtu for the first time since 2008
earlier this week, but have since retreated after Freeport LNG
said it expects initial production to resume at its fire-hit
Texas export plant only in November, compared with an earlier
estimate of October.
    "Gas (is) consolidating within (a) tight range as it further
digests delayed Freeport restart amidst only modest support from
(the) weather factor," Ritterbusch and Associates said in a
note.    
    The Freeport plant was consuming about 2 bcf per day of gas
before it shut.
    "What's going on with Freeport LNG is also having an
important effect on the European price," Abeln said further.
"Now the European countries must wait until late November to get
those additional flows, if the announcement comes to fruition."
    Gas was trading around $87 per mmBtu in Europe
and $66 in Asia.
    Dutch and British wholesale gas prices hit their highest
since March in anticipation of Norwegian outages in September,
lower French nuclear output and uncertainty about Russian gas
flows after scheduled maintenance on the Nord Stream 1 pipeline
next week.

                                              Week ended     Week ended     Year ago   Five-year        
                                                Aug 19         Aug 12        Aug 19     average    
                                               (Actual)       (Actual)                   Aug 19    
 U.S. weekly natgas storage change (bcf):         +60            +18          +32         +46           
 U.S. total natgas in storage (bcf):             2,579          2,519        2,847       2,932          
 U.S. total storage versus 5-year average       -12.0%         -12.7% Global Gas Benchmark Futures ($ per mmBtu)   Current Day     Prior Day    This Month  Prior Year   Five Year
                                                                           Last Year    Average      Average
                                                                                          2021     (2017-2021)
 Henry Hub                                       9.24           9.25          4.03        3.73        2.89
 Title Transfer Facility (TTF)                   87.33          79.56        15.43       16.04        7.49
 Japan Korea Marker (JKM)                        66.26          56.33        16.36       18.00        8.95 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                                     4              5            4           7           11
 U.S. GFS CDDs                                    147            191          190         178          160
 U.S. GFS TDDs                                    151            196          194         185          171 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                    96.8           96.8          97.1        94.0        86.5
 U.S. Imports from Canada                         7.1            7.7          7.7         8.3          8.0
 U.S. LNG Imports                                 0.0            0.0          0.0         0.0          0.1
 Total U.S. Supply                               103.8          104.6        104.8       102.3        94.6 U.S. Demand (bcfd)                                                                                     
 U.S. Exports to Canada                           2.5            2.4          2.4         2.3          2.5
 U.S. Exports to Mexico                           5.8            5.6          5.7         6.3          5.4
 U.S. LNG Exports                                10.9           11.1          10.9        10.6         4.4
 U.S. Commercial                                  4.5            4.5          4.6         4.5          4.5
 U.S. Residential                                 3.5            3.6          3.7         3.6          3.4
 U.S. Power Plant                                40.1           41.2          41.8        41.2        38.8
 U.S. Industrial                                 21.3           21.3          21.3        21.0        21.2
 U.S. Plant Fuel                                  4.8            4.8          4.8         4.8          4.8
 U.S. Pipe Distribution                           2.0            2.1          2.1         2.0          2.1
 U.S. Vehicle Fuel                                0.1            0.1          0.1         0.1          0.1
 Total U.S. Consumption                          76.3           77.5          78.4        77.2        74.9
 Total U.S. Demand                               95.5           96.6          97.4        96.4        87.2 U.S. weekly power generation percent by fuel - EIA                                                
                                              Week ended     Week ended    Week ended  Week ended  Week ended
                                                Aug 26         Aug 19        Aug 12      Aug 5       Jul 29
 Wind                                              5              6            6           8            7
 Solar                                             3              3            3           3            3
 Hydro                                             6              6            5           5            5
 Other                                             2              2            2           2            2
 Petroleum                                         0              0            0           0            0
 Natural Gas                                      44             42            45          42          42
 Coal                                             22             22            22          21          22
 Nuclear                                          18             19            17          17          17 SNL U.S. Natural Gas Next-Day Prices ($ per mmBtu)
 Hub                                          Current Day     Prior Day                            
 Henry Hub NG-W-HH-SNL                         9.27           9.75                               
 Transco Z6 New York NG-CG-NY-SNL              8.82           9.41                               
 PG&E Citygate NG-CG-PGE-SNL                   10.10          10.74                              
 Dominion South NG-PCN-APP-SNL                 8.44           8.99                               
 Chicago Citygate NG-CG-CH-SNL                 8.76           9.16                               
 Algonquin Citygate NG-CG-BS-SNL               9.09           9.60                               
 SoCal Citygate NG-SCL-CGT-SNL                 9.83           10.07                              
 Waha Hub NG-WAH-WTX-SNL                       8.17           8.40                               
 AECO NG-ASH-ALB-SNL                           2.27           1.95 SNL U.S. Power Next-Day Prices ($ per megawatt-hour)
 Hub                                          Current Day     Prior Day                            
 New England EL-PK-NPMS-SNL                   107.00         119.50                              
 PJM West EL-PK-PJMW-SNL                      125.50         124.50                              
 Ercot North EL-PK-ERTN-SNL                   118.33          96.75                              
 Mid C EL-PK-MIDC-SNL                         102.25         103.00                              
 Palo Verde EL-PK-PLVD-SNL                    105.25         107.25                              
 SP-15 EL-PK-SP15-SNL                         108.50         109.75                              
 
 (Reporting by Kavya Guduru in Bengaluru; editing by Jonathan
Oatis, Barbara Lewis and Richard Chang)
  
 
 
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