Natural gas Hits 4-week Low

Natural gas decreased to 2.95 USD/MMBtu, the lowest since September 2026. Over the past 4 weeks, Natural gas lost 0.49%, and in the last 12 months, it decreased 14.48%.

US natural gas prices fell further to $2.83 per MMBtu on Wednesday, reaching their lowest level in a month, as mild weather continued to weigh on demand. Temperatures are expected to remain mild through late October, curbing both heating and cooling demand, while expectations of a “Super El Niño” have weakened the winter demand outlook. These factors offset support from improving LNG export activity and reduced output. Average gas flows to the nine major US LNG export terminals rose to 18.2 bcfd so far in October from 17.9 bcfd in September. Meanwhile, gas production across the Lower 48 states averaged 111.4 bcfd this month, down from record highs of 113.3 bcfd in August and September. The storage surplus also continued to shrink, with inventories as of October 9 standing 3.9% below year-earlier levels and just 1.3% above the five-year average.

US natural gas prices fell to $3.0 per million British thermal units, extending losses to reach a more than two-week low as mild weather persisted. Forecasts call for mild temperatures through late October, limiting both heating and cooling demand. At the same time, El Niño-related expectations continue to weigh on the winter demand outlook. These weather factors outweighed support from a rise in LNG export activity and lower production. Average gas flows to the nine major US LNG export terminals rose to 18.1 bcfd so far in October, up from 17.9 bcfd in September. On the supply side, gas output in the Lower 48 states averaged 111.3 bcfd so far this month, down from record highs of 113.3 bcfd in August and September. In addition, the storage surplus continued to shrink, with inventories as of October 9 standing 3.9% below year-ago levels and just 1.3% above the five-year average.