FX.co ★ US Natgas Prices Rise to Over 3-Week High

US natural gas prices climbed above $2.80 per million British thermal units, the highest level since July 24, as forecasts signaled hotter weather across much of the country. Short‑term temperature outlooks have turned more supportive, with Houston temperatures expected to average around 100°F (38°C) from August 20 to 23. In addition, warmer‑than‑normal conditions are projected to persist through early September.

Still, ample supply continues to cap further price gains. Lower‑48 production has averaged about 111.5 billion cubic feet per day so far in August, surpassing July’s monthly record of 110.7 bcfd. Strong output and relatively mild spring weather have kept inventories above their five‑year average since March, despite the ongoing summer heat.

At the same time, gas deliveries to the nine major US LNG export facilities have averaged 17.2 bcfd in August, unchanged from July and just below June’s record level.