Natural gas traded above 3 USD/MMBtu

US natural gas futures held above $3.10 per MMBtu, the highest level in over seven weeks, amid hotter weather forecasts and falling output. High temperatures are expected across much of the southern and eastern US through midweek, potentially boosting gas demand from electricity providers to meet increased cooling needs. On the supply side, production continued to decline, as some energy companies, such as EQT, curtailed output in response to persistently weak spot prices. Limiting further gains, however, flows to major US export facilities eased from a monthly record of 18.8 bcfd in April to around 17.0 bcfd so far in May, amid seasonal maintenance at plants including Golden Pass and Freeport LNG. Meanwhile, reports suggested that three US LNG vessels are anticipated to arrive in China in June, the first such shipments since February 2025.

Natural gas rose above 3, according to trading on a contract for difference (CFD).

US natural gas futures climbed to $3.03 per MMBtu, reaching a seven-week high, following a near-normal storage report and a continued decline in output. The EIA reported an injection of 85 bcf of gas into storage for the week ended May 8, matching forecasts, below the 109 bcf build a year earlier and close to the five-year average increase of 84 bcf. On the supply side, production continued to fall as some energy companies, such as EQT, scaled back activity in response to persistently weak spot prices, with daily production dropping to a 15-week low. Meanwhile, flows to major US export facilities eased from a monthly record of 18.8 bcfd in April to around 17.0 bcfd so far in May, with daily volumes slipping to a 15-week low amid seasonal maintenance at plants including Golden Pass and Freeport LNG. Weather forecasts point to mostly normal conditions through late May, limiting near-term upside demand from cooling needs.