Natural gas prices fell by -0.58% to settle at 290.8 due to robust supply growth and larger-than-expected storage builds. U.S. utilities added 55 billion cubic feet of gas to storage for the week ending June 27, exceeding market expectations and well above the 35 bcf added in the same period last year.
Hotter mid-July weather forecasts are expected to boost air-conditioning demand and gas-fired power generation, supporting prices.
LNG export demand is also gaining traction, with average flows to major U.S. plants rising to 15.4 billion cubic feet per day in early July. The EIA’s latest Short-Term Energy Outlook forecasts record highs for output and demand in 2025.
