26.06.202614:43:49UTC+00US Natgas Prices Rise to Nearly 5-Month High

US natural gas prices advanced toward $3.35 per MMBtu, the highest level since early February, supported by stronger flows to liquefied natural gas export terminals and forecasts for warmer-than-normal weather through July 10. The anticipated heat is set to lift electricity demand for air conditioning in a market where gas-fired power plants supply roughly 40% of total generation.

Average daily flows to major LNG export facilities have risen to 17.3 billion cubic feet so far in June, up from 17.1 billion cubic feet in May, bolstered by record feedgas deliveries to the Golden Pass terminal in Texas. At the same time, the Energy Information Administration reported an essentially seasonal storage build of 76 billion cubic feet for the week ended June 19, keeping domestic inventories about 5.7% above the five-year average.

Production in the Lower 48 states has remained steady at 109.7 billion cubic feet per day so far in June, unchanged from May.