FX.co ★ US Natgas Prices Hold Decline

US natural gas prices held near $3.15 per MMBtu after dropping more than 3% in the previous session, pressured by ample inventories and cooler weather that signals softer demand. Forecasts call for below-normal temperatures across the Mid-Atlantic from June 23 to 27, likely reducing air-conditioning-driven power use. The cooler outlook follows a mild spring that allowed energy companies to build larger-than-usual stockpiles, which now stand about 5.8% above the seasonal norm. At the same time, maintenance-related cuts in gas flows to US LNG export terminals have diverted additional supply back into the domestic market. This increased availability has more than offset a slight pullback in production, with output in the Lower 48 states easing to 109.5 bcfd so far in June from 109.7 bcfd in May.