US natural gas futures climbed to $2.657 per MMBtu, supported by a recent pullback in production and expectations of stronger demand over the next two weeks, though prices remained near their lowest levels since October 2024. Average output declined by roughly 3.2 bcfd over the past four days to a preliminary 10‑week low of 108.0 bcfd, led by notable reductions in Louisiana and Ohio. At the same time, gas flows to major US LNG export facilities rose to 18.9 bcfd so far in April, up from 18.6 bcfd in March and hovering near record highs.
Still, the Energy Information Administration reported an inventory build of 59 billion cubic feet for the week ended April 10, surpassing market expectations and coming in well above both the year‑earlier increase and the five‑year average. The larger‑than‑expected storage injection was primarily attributed to mild weather that curbed heating demand, and forecasts point to continued warmer‑than‑normal conditions through early May.
