US Natural Gas Falls to Two-Month Low at $2.76/MMBtu
Updated
Summary
US natural gas prices fell to $2.76 per MMBtu on Friday, their lowest level in two months, as mild-weather forecasts weighed on expected heating demand.
Why it matters
Commodity Weather Group expected above-average temperatures across the Midwest and East through November 5, likely limiting gas consumption.
EIA data showed 77 bcf added to storage in the week ended October 16, below the 86 bcf injected in the same week last year and the five-year average of 87 bcf.
Average gas flows to the nine major US LNG export facilities rose to 18.2 bcfd in October from 17.9 bcfd in September.