US natural gas futures fell more than 3% on Friday to $3.11 per million British thermal units, the lowest level in over a week. For the week, prices were down about 3%, reversing part of the roughly 6% advance recorded the previous week.
Average dry gas output in the Lower 48 states slipped to 110.8 billion cubic feet per day (bcfd) in October, below the record levels of 113.3 bcfd seen in both August and September. Production has been pressured by recent disruptions tied to Hurricane Isaias, temporary shutdowns in the Gulf of Mexico, and pipeline constraints.
Looking ahead, LSEG forecasts that total US gas demand, including exports, will climb from 103.87 bcfd this week to 106.8 bcfd over the next two weeks as colder weather boosts consumption.
On the export side, average feedgas deliveries to major US LNG terminals eased to 17.6 bcfd in October from 17.9 bcfd in September. Even so, daily flows were on track to reach a five‑month high of 18.9 bcfd on Friday, driven by increased volumes to the Sabine Pass and Golden Pass facilities.
