US Natgas Prices Near 6-Month Low Ahead EIA Report

2026-02-26 08:14 By Agna Gabriel 1 min. read

US natural gas futures fell more than 2% to around $2.80 per MMBtu, approaching their lowest level since August, after a 1.3% rebound in the prior session, as traders awaited the weekly storage report from the US Energy Information Administration.

Expectations for a smaller withdrawal of about 36 billion cubic feet last week, well below the heavy draws seen in prior weeks, added downward pressure.

Production remains strong, with Lower 48 output averaging 108.7 bcfd in February, up from January.

Although storage was about 6% below normal in mid-February, the deficit is expected to narrow to near 1% due to mild weather.

Warmer weather forecasts across much of the western United States through month-end are also dampening heating demand and easing power sector consumption.

With winter nearing its end, the likelihood of a late-season cold snap tightening supplies has diminished.

Still, LNG exports remain robust at 18.7 bcfd and are on pace for a monthly record.



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