US natural gas futures rose more than 2% to $2.87 per MMBtu on Tuesday, rebounding from recent lows as daily output declined. Production has fallen by roughly 3 bcfd over the past two days to a two‑week low of 108.9 bcfd, with most of the drop concentrated in Louisiana and Arkansas.
Even with the latest price uptick, futures remain close to their lowest levels since September 2025, as unseasonably mild spring weather continues to curb demand. Softer temperatures have enabled utilities to inject additional gas into storage, and inventories are now expected to be about 5% above seasonal norms in early April.
Weather forecasts call for continued warmer‑than‑average conditions through April 22, further dampening heating demand. On the supply side, pressure is easing as LNG feedgas flows slipped to a four‑week low of 17.9 bcfd on Tuesday, driven primarily by reduced deliveries to Cheniere Energy’s Sabine Pass export terminal, even though overall flows for April remain relatively high.
