05.11.202508:37:25UTC+00US Natgas Prices Snap 4-Day Rally

U.S. natural gas futures declined by over 2% to $4.24 per MMBtu, retreating after a four-day surge that had elevated prices to an eight-month peak of $4.34. This downward adjustment comes in response to increased production and forecasts predicting mild weather, which consequently reduces near-term heating demand. Meteorologists anticipate above-average temperatures across the majority of the country through mid-November, likely maintaining subdued heating needs. Additionally, the average gas production in the Lower 48 states is on the rise in November, following a level of 107 billion cubic feet per day in October. Earlier in the year, record-high production levels contributed to storage reserves that are approximately 4% above the seasonal average. On the export side, LNG flows remain robust, with gas deliveries to the eight primary U.S. export plants increasing, as continued strong overseas demand from Europe and Asia helps to absorb excess supply.