13.01.202615:43:07UTC+00US Natgas Prices Ease on Tuesday

U.S. natural gas futures dipped to $3.33 per MMBtu following a significant 7.6% surge on Monday, which had been propelled by unprecedented flows to LNG export facilities and predictions of colder weather that are expected to increase heating demand. Production in the Lower 48 states has slightly decreased, averaging 109.4 billion cubic feet per day (bcfd) in January thus far, compared to December's peak of 109.7 bcfd. Weather forecasts indicate below-normal temperatures across much of the U.S. through January 28, with the coldest phase anticipated between January 18 and 20, bolstering short-term demand prospects. Concurrently, LNG exports are maintaining record figures, averaging 18.8 bcfd in the current month. A new daily peak of 19.5 bcfd was achieved on Monday, largely driven by a flow of 2.6 bcfd to Cheniere Energy’s Corpus Christi plant, surpassing the previous high recorded in early December.