US natural gas prices hovered around $3.01 per MMBtu on Friday, stabilizing after a decline of more than 6% in the previous session to a six-week low. The market is weighing the prospect of reduced gas flows to LNG export facilities against data indicating ample domestic supply.
Freeport LNG announced that maintenance at its pre-treatment and liquefaction facilities will begin on July 10 and continue through late August, temporarily lowering feedgas demand. At the same time, EIA data showed that energy firms injected 61 Bcf of natural gas into storage for the week ended July 3, expanding the surplus over the five-year average to 185 Bcf, up from 175 Bcf a week earlier.
Still, forecasts for above-normal temperatures through July 23 are expected to keep power-sector gas demand elevated. On the supply side, natural gas output in the Lower 48 states has averaged 109.7 bcfd so far in July, down from 110.0 bcfd in June and below the record monthly high of 110.6 bcfd set in December 2025.