05.06.202615:21:30UTC+00US Natgas Prices Ease from Over 16-Week High

US natural gas futures slipped about 2% to $3.255 per MMBtu, retreating from a more than 16‑week high set in the prior session. LNG export demand eased, with average gas flows to the nine major US export terminals falling to 16.4 billion cubic feet per day (bcfd) so far in June, down from 17.1 bcfd in May. The decline is largely attributed to seasonal maintenance at facilities including Golden Pass and Freeport LNG in Texas.

Despite weaker exports, weather forecasts call for above‑normal temperatures through June 20, which is likely to boost gas consumption for power generation as cooling demand rises. On the supply side, output in the Lower 48 states has averaged 108.8 bcfd so far this month, compared with 109.7 bcfd in May.

Analysts noted that mild spring weather allowed inventories to build more quickly than usual. However, recent production declines have likely trimmed the storage surplus to roughly 5% above normal, from about 6% a week earlier. For the week, US natural gas prices are down more than 1%.