US Natural Gas Falls 1.5% as High Storage and Output Offset Weather Support
Henry Hub natural gas declined 1.5% to $2.913/MMBtu as elevated inventories and strong production outweighed weather-related demand. EIA stockpiles rose 30 Bcf to 3.214 Tcf, 5.2% above the five-year average.
Natural gas prices came under pressure, falling 1.5% to $2.913 per MMBtu. The decline came as elevated storage levels and strong production weighed on sentiment, offsetting support from weather-related demand.
Weekly EIA data showed stockpiles rose by 30 Bcf to 3.214 Tcf, leaving inventories 5.2% above their five-year average. Domestic gas output reached about 114.3 Bcf/d, reinforcing the supply-side narrative.
LNG feedgas flows slipped 1.7% week over week, adding another soft demand signal. The combination of ample inventory, robust output, and lower LNG flows kept the near-term balance skewed bearish despite weather-driven demand.
Source: First Squawk