2026.11.0204:38:04UTC+00US Natgas Prices Hover Near 1-Week Low

US natural gas prices hovered around $2.90/MMBtu, holding near a one-week low as unseasonably mild weather and recovering domestic output pressured the market. Forecasts indicate that temperatures across much of the country will remain generally warmer than normal through the first half of November, likely keeping heating demand muted. At the same time, production in the Lower 48 has rebounded, averaging about 113.3 bcfd over the past week and bolstering supply. These bearish influences are offsetting support from robust LNG exports and tightening storage. Average feedgas deliveries to the nine major US LNG export terminals increased to 18.5 bcfd in October from 17.9 bcfd in September. Meanwhile, the EIA reported a larger-than-anticipated storage build for the week ended October 23, lifting total inventories to roughly 1% above the five-year average, though still 3.8% below the level seen a year earlier.