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24.02.202615:10:07UTC+00US Natgas Prices Fall to 4-Month Low

US natural gas futures fell below $3 per MMBtu, the lowest level since October, as expectations for warmer weather weighed on demand. Updated forecasts call for above-average temperatures across much of the western United States through the end of the month, curbing heating needs and reducing gas consumption from power plants. With winter drawing to a close, traders now see a diminished risk of a late-season cold snap that could tighten supplies. At the same time, production remains robust, with output in the Lower 48 averaging 108.7 billion cubic feet per day in February, up from 106.3 bcfd in January. Storage levels were about 6% below normal in mid-February, but analysts expect that deficit to narrow to roughly 1% as mild weather has limited withdrawals. Meanwhile, LNG export flows have increased to 18.7 bcfd and are on pace to set a monthly record.

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