25.06.202615:59:51UTC+00US Natgas Prices Rise to 3-Week High

US natural gas prices advanced toward $3.28 per MMBtu, the highest level in three weeks, supported by stronger flows to liquefied natural gas (LNG) export facilities and forecasts for above-normal temperatures through July 10. The hotter outlook is expected to boost electricity demand for air conditioning in a market where gas-fired power plants supply roughly 40% of total generation.

Average daily gas flows to major LNG export terminals have risen to 17.3 billion cubic feet so far in June, up from 17.1 billion cubic feet in May, driven in part by record feedgas intake at the Golden Pass facility in Texas. At the same time, the Energy Information Administration reported a near-normal storage injection of 76 billion cubic feet for the week ended June 19, keeping domestic inventories about 5.7% above typical seasonal levels.

On the supply side, production in the Lower 48 states has remained steady at 109.7 billion cubic feet per day so far in June, unchanged from May.