US natural gas futures fell nearly 2% to about $3.17 per MMBtu, extending their pullback from a 16‑week high, as robust inventories and softer LNG export flows put downward pressure on prices. While recent production cuts have helped trim the storage surplus, inventories are still roughly 5% above the five‑year seasonal average, signaling broadly comfortable supply conditions heading into the summer.
At the same time, net flows to major LNG export terminals have declined to 16.4 bcfd so far in June, down from 17.1 bcfd in May, as ongoing seasonal maintenance at several facilities continues to constrain exports. Even so, expectations of stronger weather‑driven demand are lending some support to prices, with forecasts calling for mostly above‑normal temperatures through June 20.