FX.co ★ US Natgas Prices Hold Gains

US natural gas prices traded near $3.14 per MMBtu on Tuesday after closing 0.9% higher in the previous session, supported by signs of recovering LNG export activity. Flows to LNG export terminals rose 13.2% week-on-week on Monday to 19.3 billion cubic feet per day, the highest level in six weeks. Expectations of stronger cooling demand as temperatures climb into early July also underpinned prices, as hotter weather typically boosts gas consumption in the power sector. Still, upside remains limited by robust domestic supply. US natural gas inventories totaled 2.686 trillion cubic feet as of June 5, around 6% above the five-year seasonal average.