US Natural Gas Prices Slide

2026-08-17 03:19 By Judith Sib-at 1 min. read

US natural gas prices dropped 3% to around $2.65 per million British thermal units on Monday, hovering near three-month lows, weighed down by robust production and comfortable inventory levels.

An EIA report last week showed energy firms injected 36 bcf of gas into storage in the week ended August 7, larger than market expectations of a 31 bcf build and the five-year average increase of 33 bcf.

On top of that, production in the Lower 48 states averaged a record 111.3 bcfd in August so far, up from 110.7 bcfd in July, keeping inventories above their five-year average since March.

Adding to the downward pressure, gas flows to the nine major LNG export facilities eased to 17.1 bcfd so far this month from 17.2 bcfd in July, reducing the volume of gas processed for export and leaving more supply available to the domestic market.

These factors offset support from weather-driven summer demand, with forecasts calling for hotter-than-normal weather through the end of August.



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US Natural Gas Prices Slide
US natural gas prices dropped 3% to around $2.65 per million British thermal units on Monday, hovering near three-month lows, weighed down by robust production and comfortable inventory levels. An EIA report last week showed energy firms injected 36 bcf of gas into storage in the week ended August 7, larger than market expectations of a 31 bcf build and the five-year average increase of 33 bcf. On top of that, production in the Lower 48 states averaged a record 111.3 bcfd in August so far, up from 110.7 bcfd in July, keeping inventories above their five-year average since March. Adding to the downward pressure, gas flows to the nine major LNG export facilities eased to 17.1 bcfd so far this month from 17.2 bcfd in July, reducing the volume of gas processed for export and leaving more supply available to the domestic market. These factors offset support from weather-driven summer demand, with forecasts calling for hotter-than-normal weather through the end of August.
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US natural gas prices fell more than 2% to around $2.73 per million British thermal units on Thursday, as strong production and ample inventories outweighed continued weather-driven demand. Energy companies added 36 billion cubic feet of gas to storage in the week ended August 7, above market expectations and the five-year average of 33 bcf. Production in the Lower 48 states averaged a record 111.2 bcfd in August, up from 110.7 bcfd in July, helping keep inventories above their five-year average since March. However, hotter-than-normal weather is expected to persist through August 28, supporting electricity demand for air conditioning and limiting the downside for gas prices. Meanwhile, around 490,000 homes and businesses remained without power after severe storms hit the US Midwest. Gas flows to the nine major US LNG export facilities eased to 17.1 bcfd in August, below July’s 17.2 bcfd and June’s monthly record of 17.4 bcfd.
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US natural gas prices fluctuated around $2.75-2.80 per million British thermal units as investors weighed hotter weather forecasts and rising LNG demand against strong supply levels. Forecasts now point to significantly hotter conditions across the central and southern US, which could boost electricity demand as consumers increase air-conditioning use and raise gas consumption by power generators. Also, flows to US LNG export terminals on the Gulf Coast climbed to their highest level in more than a month as some facilities appeared to complete seasonal maintenance, reducing gas available to the domestic market. However, elevated inventories continue to limit the upside, with storage 6.6% above the five-year average for the week ending August 7. Strong production and additional supply from West Texas pipelines coming online are also expected to keep the market well supplied.
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