FX.co ★ US Natgas Prices Edge Down

US natural gas prices slipped to $3.25 per MMBtu, easing from a three-week high of $3.30 reached on June 25, as cooler weather forecasts pointed to lower air-conditioning use and reduced gas-fired power demand.

Despite this short-term pullback, export fundamentals remain strong. Average daily flows to major LNG export terminals along the US Gulf Coast have risen to 17.3 billion cubic feet so far in June, up from 17.1 billion cubic feet in May. This increase has been driven largely by record feedgas deliveries to the Golden Pass facility in Texas.

At the same time, domestic output across the Lower 48 has held steady, averaging 109.7 billion cubic feet per day throughout June.