US Natgas Prices Fall to Over 1-Week Low

US natural gas prices dropped more than 3% to $3.11 per million British thermal units on Friday, their lowest level in over a week. Prices were down around 3% for the week, following a 6% gain the previous week. Average production across the Lower 48 states reached 110.8 billion cubic feet per day (bcfd) in October, below August and September records of 113.3 bcfd. Recent disruptions linked to Hurricane Isaias, Gulf of Mexico shutdowns and pipeline problems contributed to the decline. expects demand, including exports, to rise from 103.87 bcfd this week to 106.8 bcfd over the following two weeks as colder weather arrives. Meanwhile, average feedgas deliveries to major US LNG export terminals eased to 17.6 bcfd in October from 17.9 bcfd in September. However, daily flows were on track to reach a five-month high of 18.9 bcfd on Friday, supported by stronger deliveries to Sabine Pass and Golden Pass.