US Natural Gas Falls to Two-Week Low at $3.07/MMBtu
Updated
Summary
US natural gas prices fell to $3.07 per million British thermal units on Monday, reaching a two-week low amid persistent mild weather.
Why it matters
Forecasts call for mild temperatures through late October, limiting heating and cooling demand; El Niño-related expectations continue to weigh on the winter demand outlook.
Inventories as of October 9 were 3.9% below year-ago levels and 1.3% above the five-year average, while the storage surplus has been shrinking in recent weeks.
Average gas flows to the nine major US LNG export terminals were 17.6 bcfd so far in October, down from 17.9 bcfd in September; Lower 48 output averaged 110.8 bcfd so far this month, below record highs of 113.3 bcfd in August and September.