FX.co ★ US Natgas Prices Rebound from 6-Week Low

U.S. natural gas futures advanced by 3% to $3.28 per MMBtu on Thursday, recovering from a six-week low. This upward movement was prompted by increased LNG export activity and projections of higher-than-average temperatures, which are anticipated to boost demand through late July. LNG exports from the eight primary U.S. facilities have averaged 15.6 billion cubic feet per day in July, as several plants resumed operations following maintenance and outages. On Thursday, LNG feed gas was poised to reach a 10-week peak of 16.0 bcfd, with supply to Cheniere Energy’s Corpus Christi facility climbing from 1.5 bcfd to 2.2 bcfd. Furthermore, forecasts indicating warmer conditions across the Lower 48 states suggest sustained higher cooling demand. Concurrently, a federal report disclosed a 53 bcf increase in storage for the week ending July 4, aligning with the five-year average.