09.03.202616:19:29UTC+00US Natgas Prices Ease on Monday

US natural gas futures eased to around $3.12 per MMBtu, pressured by rising domestic supply and softer export demand. Gas flows to the nine main US LNG export terminals have averaged about 18.1 bcfd so far in March, down from a record 18.7 bcfd in February, partly reflecting an outage at Freeport LNG’s Texas facility following a feedgas issue.

Global energy markets remain volatile after QatarEnergy halted LNG production and declared force majeure amid the conflict involving Iran, temporarily removing roughly 20% of global LNG supply and pushing international gas prices higher. US prices, however, have risen far less, as domestic production is sufficient to meet internal demand and LNG export capacity is already close to its limit.

Weather is also curbing consumption: forecasts call for warmer-than-normal conditions across the US through late March, reducing heating demand. At the same time, gas output in the Lower 48 states has climbed to about 110 bcfd so far in March.