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US natural gas futures held steady as forecasts predicted stable demand for the next two weeks. Output has been averaging lower due to pipeline maintenance, but the market anticipates an increase once the Mountaineer XPress pipe returns to full service. US storage surplus is expected to shrink to 2.4% above the five-ye
November gas futures fell 3.1% to $3.011 per mmBtu as forecasts pointed to lower near-term demand and expectations of higher output grew. LSEG said US demand is seen rising next week, while storage surplus is expected to narrow to 2.4% above the five-year average.
November gas futures fell 2.0% to $3.043 per mmBtu as forecasts pointed to weaker demand this week and higher output after the Mountaineer XPress pipeline returned to service. Analysts estimated US gas inventories at 2.4% above the five-year average for the week ended September 25.
October US natural gas futures fell 3.2% to $3.095 per mmBtu as the Mountaineer XPress pipe in West Virginia returned to service. Northeast spot prices also dropped below $1 per mmBtu, with New York, New England and the Mid-Atlantic hitting multi-year lows.
Salt Dome Cavern NatGas Stocks (BCF): -5 (prev -1)