US natural gas futures slipped to around $3.15 per MMBtu, extending their retreat from a three‑month high as demand for LNG exports softened. Average feedgas deliveries to major LNG export terminals fell from 17.1 bcfd in May to 16.0 bcfd in early June, driven by seasonal maintenance at several plants, pushing daily flows to a four‑month low. The reduced export demand is adding to domestic supply at a time when storage remains comfortable, standing more than 6% above the five‑year average.
Downside pressure was partly offset by weather forecasts calling for mostly above‑normal temperatures through June 17, which should lift gas consumption by power generators as air‑conditioning use increases. At the same time, gas output in the Lower 48 states has eased, averaging 108.8 bcfd so far in June, compared with 109.7 bcfd in May.
