FX.co ★ US Natgas Prices Fall after Inventory Build

U.S. natural gas futures fell to $4.13 per MMBtu following a report from the EIA indicating a larger-than-expected increase in inventory. For the week ending March 14, U.S. utilities added 9 billion cubic feet of gas to storage, surpassing the anticipated 3 billion cubic feet. This development marks the first storage increase since November 2024 and helps reduce the existing storage deficit. Despite this, current gas inventories remain 26.8% lower than the same period last year and are 10% below the five-year average. Simultaneously, LNG exports reached an unprecedented 15.7 billion cubic feet per day in March, largely due to expanded operations at Venture Global's Plaquemines LNG facility. Looking ahead, forecasts suggest temperatures will remain close to seasonal norms through early April. On the supply front, natural gas production in the Lower 48 states increased to 105.7 billion cubic feet per day in March, surpassing February's record of 105.1 billion cubic feet per day.