US Natgas Prices Rise to 11-Week High

US natural gas prices rose to $3.07 per million British thermal units, their highest level since July 8, after an EIA report showed a storage build broadly in line with expectations. Energy firms added 53 billion cubic feet to inventories in the week ended September 18, below the 77 bcf increase recorded a year earlier and the five-year average of 76 bcf, as hot weather boosted cooling demand. Inventories stood 2.9% above normal, down from 3.7% the previous week. US Lower 48 production was also on track to fall to an 11-week low of 108.4 bcfd on Thursday, mainly due to declines in Louisiana and West Virginia. Weather forecasts point to mostly normal conditions through October 9. Meanwhile, average gas flows to the nine major US LNG export plants reached 17.8 bcfd in September, up from 17.2 bcfd in August, despite the planned shutdown of Berkshire Hathaway Energy’s 0.8-bcfd Cove Point facility for annual maintenance.

US natural gas prices climbed to $3.06/MMBtu, reaching their highest level since July 8, as forecasts for hot autumn weather pointed to stronger demand for gas-fired power generation. Above-average temperatures are expected across the South-Central US through October 6, potentially extending air-conditioning use and lifting gas consumption. The storage surplus has also been shrinking as late-summer heat boosted power-sector demand, partly offsetting strong domestic production. Analysts estimated that inventories were 3% above the five-year average for the week ended September 18, down from a 3.7% surplus a week ago. At the same time, LNG export activity remains robust, with average gas flows to the nine major LNG export plants rising to 18 bcfd so far in September from 17.2 bcfd in August. Stronger overseas demand is also supporting exports, with buyers in Europe and Asia seeking to replenish inventories ahead of winter amid disruptions to LNG flows from the Persian Gulf.

Natural gas increased to 3.01 USD/MMBtu, the highest since July 2026. Over the past 4 weeks, Natural gas gained 5.66%, and in the last 12 months, it decreased 4.6%.