US Natgas Prices Little Changed Ahead EIA Data

2026-02-05 10:53 By Agna Gabriel 1 min. read

US natural gas futures were little changed at $3.45 per million British thermal units on Thursday, as traders awaited the weekly EIA storage report and weighed strong LNG demand against milder weather forecasts.

Analysts expect heavy withdrawals during last week’s Arctic blast to have shifted inventories from about 5% above normal to roughly 1% below normal for this time of year, tightening supply.

Gas flows to the eight largest US LNG export plants averaged 18.3 bcfd so far in February, up from 17.8 bcfd in January and near December’s record 18.5 bcfd, reflecting strong global demand for US gas.

The US became the world’s largest LNG exporter in 2023 amid supply disruptions following Russia’s 2022 invasion of Ukraine.

Weather is expected to turn mostly warmer nationwide through February 19, though the Northeast will remain colder for another week.

Production in the Lower 48 edged up to 106.4 bcfd but remains below December’s record levels.



News Stream
US Natgas Jumps on Ras Laffan Attack
US natural gas futures jumped about 5% to around $3.2 per MMBtu, reversing losses from earlier in the week after Iran launched attacks on key energy infrastructure across the Middle East, intensifying supply concerns. Iran carried out missile strikes on Qatar’s Ras Laffan Industrial City, a complex housing the world’s largest LNG export plant, marking one of several energy assets Tehran pledged to target following an Israeli strike on Iran’s South Pars gas field. Abu Dhabi also suspended operations at its Habshan gas facilities after intercepted missiles caused falling debris, while LNG assets in Bahrain were reportedly struck by heavy missile barrages. Meanwhile, the EIA reported a 38 billion cubic feet storage withdrawal in its latest weekly data, smaller than the 42 Bcf draw expected, signaling that heating demand is starting to ease as the winter season draws to a close.
2026-03-18
US Natgas Continues to Drop
US natural gas futures fell to around $3.0 per MMBtu, hitting a two-week low, as a warmer spring outlook and record domestic production offset ongoing supply risks stemming from the Middle East conflict. The EIA reported a 38 billion cubic feet storage withdrawal in the latest weekly data, smaller than the 42 Bcf draw expected, signaling that heating demand is beginning to fade as the winter season comes to an end. While the Iran war continues to disrupt shipments through the Strait of Hormuz and has halted operations at the world’s largest LNG hub in Qatar, the impact on US prices has remained limited. This is because the country already produces sufficient natural gas to meet domestic demand, with LNG export terminals operating close to their maximum capacity.
2026-03-16
US Natgas Drop From Recent Highs
US natural gas futures retreated below $3.15 per MMBtu in mid March as expectations for warmer spring weather and record domestic production outweighed the persistent supply concerns from the Middle East conflict. Prices fell nearly 3% after a smaller than anticipated inventory withdrawal of 38 billion cubic feet indicated that heating demand is fading with the end of the winter season. While the war with Iran continues to block the Strait of Hormuz and limit Qatari exports the impact on American prices has been softened by domestic production levels reaching 118.5 billion cubic feet per day. A sudden shift in the market outlook following political statements regarding a potential end to hostilities also pulled global energy costs lower and reduced the price pressure on American fuel. The US dollar strengthened generally because of safe haven buying during the geopolitical instability, making dollar priced commodities less attractive.
2026-03-13