US Natgas Prices Fall from 7-Week High

2026-11-13 15:40 By Agna Gabriel 1 min. read

US natural gas prices fell to $3.23 per million British thermal units on Friday, retreating from a seven-week high of $3.34 reached on November 12, as warmer-than-normal winter forecasts and profit-taking weighed on the market following a weather-driven rally.

Traders have increasingly priced in the recent cold spell, while expectations of mild conditions point to weaker heating demand and greater scope for storage injections.

The latest federal report showed inventories reaching 2% above normal in the week ended November 6, up from a 1.4% surplus a week earlier.

Ample supply and rising production also pressured prices, alongside softer export activity.

Average gas flows to the nine major US LNG export terminals eased to 18.1 bcfd so far in November, from 18.5 bcfd in October.

Meanwhile, Lower 48 output averaged 112.4 bcfd.

During the week, US natural gas prices rose more than 7%.



News Stream
US Natgas Prices Fall from 7-Week High
US natural gas prices fell to $3.23 per million British thermal units on Friday, retreating from a seven-week high of $3.34 reached on November 12, as warmer-than-normal winter forecasts and profit-taking weighed on the market following a weather-driven rally. Traders have increasingly priced in the recent cold spell, while expectations of mild conditions point to weaker heating demand and greater scope for storage injections. The latest federal report showed inventories reaching 2% above normal in the week ended November 6, up from a 1.4% surplus a week earlier. Ample supply and rising production also pressured prices, alongside softer export activity. Average gas flows to the nine major US LNG export terminals eased to 18.1 bcfd so far in November, from 18.5 bcfd in October. Meanwhile, Lower 48 output averaged 112.4 bcfd. During the week, US natural gas prices rose more than 7%.
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US natural gas prices rose above $3.30/MMBtu, their highest level in seven weeks, as a colder weather outlook, record LNG export flows, and declining production supported the market. Forecasts shifted cooler across parts of the central and eastern US through November 20, raising expectations for stronger heating demand in the coming weeks. Robust LNG export activity also provided support, with average gas flows to the nine major export terminals reaching a record 19.3 bcfd so far in November, surpassing October's previous monthly record of 18.4 bcfd. On the supply side, Lower 48 production averaged 112.3 bcfd so far this month, down from 113.4 bcfd in October. Still, inventories remained comfortably within the normal range, with analysts estimating stocks stood 2.1% above the five-year average in the week ended November 6, up from 1.4% the previous week.
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