US Natgas Prices Rise Ahead of Storage Report

2026-10-15 03:58 By Judith Sib-at 1 min. read

US natural gas futures rose to around $3.25 per million British thermal units on Thursday, moving back near a three-week high as market attention turned to the EIA’s weekly storage report due later in the day.

Analysts expect the storage surplus to narrow to 1.6% above seasonal norms in the week ended October 9, from 2% in the previous week.

On the supply side, gas production in the Lower 48 states averaged 110.8 bcfd so far in October, below the record highs of 113.3 bcfd in August and September.

The decline reflected hurricane-related shut-ins in the Gulf of Mexico, force majeure events and pipeline disruptions across several states.

However, gains were limited by forecasts for mostly milder-than-normal weather across the country through October 29, which is expected to curb both heating and cooling demand.

In addition, average feedgas deliveries to the nine major US LNG export terminals eased to 17.5 bcfd this month so far, from 17.9 bcfd in September.



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US Natgas Prices Rise Ahead of Storage Report
US natural gas futures rose to around $3.25 per million British thermal units on Thursday, moving back near a three-week high as market attention turned to the EIA’s weekly storage report due later in the day. Analysts expect the storage surplus to narrow to 1.6% above seasonal norms in the week ended October 9, from 2% in the previous week. On the supply side, gas production in the Lower 48 states averaged 110.8 bcfd so far in October, below the record highs of 113.3 bcfd in August and September. The decline reflected hurricane-related shut-ins in the Gulf of Mexico, force majeure events and pipeline disruptions across several states. However, gains were limited by forecasts for mostly milder-than-normal weather across the country through October 29, which is expected to curb both heating and cooling demand. In addition, average feedgas deliveries to the nine major US LNG export terminals eased to 17.5 bcfd this month so far, from 17.9 bcfd in September.
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US natural gas futures fell below $3.20 per million British thermal units, retreating from a nearly three-week high of $3.283 reached on October 13, mainly due to forecasts for relatively mild weather across the country through October 29, which are expected to limit both heating and cooling demand. Also, average feedgas deliveries to the nine major US liquefied natural gas export terminals eased to 17.5 billion cubic feet per day so far this month, down from 17.9 bcfd in September. On the other hand, domestic production in the Lower 48 states declined to 110.8 bcfd in October, compared with record averages of 113.3 bcfd in August and September. The reduction reflected hurricane-related Gulf of Mexico shut-ins, force majeure events and pipeline disruptions in several states. Meanwhile, analysts estimate inventories fell to 1.6% above seasonal norms in the week ending October 9, from 2% previously, ahead of Thursday’s government storage report.
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