FX.co ★ US Natgas Prices Snap 3-Day Losing Streak

U.S. natural gas futures rose to approximately $3.39/MMBtu on Monday, reversing a trend of three consecutive declines. This surge is attributed to projections of colder weather leading to increased demand over the forthcoming two weeks, coupled with robust liquefied natural gas (LNG) export activities. The average flow to the eight principal U.S. LNG export facilities has reached 16.6 billion cubic feet per day (bcfd) in October, a notable increase from September's 15.7 bcfd and exceeding the previous record of 16.0 bcfd set in April. Notably, LNG feedgas volumes peaked at an unprecedented 17.4 bcfd on Sunday, with shipments to Venture Global's Plaquemines facility in Louisiana also achieving a record flow of 3.9 bcfd. Although recent gas production has hovered around 108 bcfd, the monthly average output for October has decreased slightly to 107 bcfd, down from 107.5 bcfd in September. Previous high output levels have led to storage inventories rising above typical seasonal levels, with current stockpiles approximately 5% higher than the average.