Natural gas Hits 10-week Low

US natural gas futures slid over 3% to below $2.8 per MMBtu on Monday, the lowest since May 8, tracking the decline in global energy prices as Middle East hostilities paused. Iran said on Sunday that it had halted retaliatory attacks against US allies in the region after Washington stopped its strikes on the country since Friday. US gas prices also dropped amid ample supply conditions, with EIA data showing that gas inventories remained 6.4% above the five-year seasonal average as of July 17, while average gas output in the Lower 48 states rose to 110.4 bcfd so far in July from 110.0 bcfd in June. LNG export demand also eased, with gas flows to major export terminals averaging 17.2 bcfd so far this month, slightly below 17.4 bcfd in June, partly due to scheduled maintenance at Freeport LNG’s facility in Texas. Meanwhile, temperatures are forecast to remain mostly above normal through August 8, which is likely to keep gas demand from power generators elevated to meet cooling needs.

Natural gas decreased to 2.82 USD/MMBtu, the lowest since May 2026. Over the past 4 weeks, Natural gas lost 11.27%, and in the last 12 months, it decreased 7.94%.

US natural gas futures climbed above $2.95 per MMBtu, extending their rebound from a two-month low as forecasts for hotter weather boosted expectations of stronger cooling demand. Meteorologists expect temperatures to remain mostly above normal through August 7, likely increasing natural gas consumption by power generators as air conditioning use rises. However, gains were capped by ample supply conditions. EIA data showed gas inventories were 6.4% above the five-year seasonal average as of July 17, while production in the Lower 48 states increased to an average of 110.4 bcfd so far in July, up from 110.0 bcfd in June. LNG export demand also eased, with gas flows to major export terminals averaging 17.4 bcfd so far this month, slightly below June's pace, partly due to scheduled maintenance at Freeport LNG's Texas facility. Meanwhile, Tropical Storm Bertha is being closely monitored as it could disrupt LNG export operations along the US Gulf Coast.