US Natgas Prices Edge Up Slightly After EIA Data

US natural gas prices edged higher to around $2.75 per MMBtu after the latest EIA report showed a smaller-than-expected increase in storage last week. Energy firms added 28 billion cubic feet of gas in the week ended July 24, below market expectations for a 35 bcf build. Despite the modest rebound, prices remained near their lowest level since early May as inventories stayed 6.4% above the five-year seasonal average, indicating ample supply. Production also remained strong, with output in the Lower 48 states averaging 110.6 bcfd so far in July, matching the record monthly high set in December 2025. LNG export demand softened slightly, with flows to major export terminals averaging 17.2 bcfd, down from 17.4 bcfd in June, partly because of scheduled maintenance at Freeport LNG’s Texas facility. Updated weather forecasts calling for cooler temperatures across the central and eastern US in the coming weeks also weighed on prices by reducing expected air-conditioning demand.

Natural gas decreased 6.08% to 2.5988 USD/MMBtu

US natural gas futures fell below $2.7 per MMBtu, extending losses to their lowest level in three months, weighed down by strong production, comfortable inventory levels, and weak LNG feedgas demand. Average gas output in the US Lower 48 states rose to 110.6 bcfd so far in July from 110.0 bcfd in June, matching the monthly record high reached in December 2025. The increase in production has added to concerns over an oversupplied market, with inventories remaining 6.4% above the five-year seasonal average as of July 17 and expected to rise to 6.6% above normal for the week ending July 24. LNG export demand also softened, with gas flows to major export terminals averaging 17.2 bcfd so far this month, down slightly from 17.4 bcfd in June, partly due to scheduled maintenance at Freeport LNG’s facility in Texas. Prices were also pressured by updated forecasts pointing to cooler weather across the central and eastern US in the coming weeks, reducing electricity demand for air conditioning.