20.08.202615:13:37UTC+00US Natgas Prices Fall from 4-Wek High

US natural gas prices eased to about $2.72 per million British thermal units on Thursday, pulling back from a near four-week high as traders weighed persistent heat against abundant supply. The latest EIA data showed US utilities injected only 16 billion cubic feet of gas into storage last week, below both the 19 bcf increase during the same week a year earlier and the five-year average build of 29 bcf. Despite this smaller-than-normal injection, inventories remain above seasonal norms, underpinned by record production and relatively mild weather earlier in the year. Output has thus stayed robust enough to keep storage levels comfortable even amid sustained summer heat. At the same time, average flows to the nine major US LNG export terminals held steady at 17.2 bcfd in August, just under June’s record 17.4 bcfd. Looking ahead, forecasts call for predominantly warmer-than-normal temperatures through September 3, which could bolster demand from power generators.