Natural gas prices fell by 4.88% to 235.9 due to strong supply and limited demand triggers. Despite hotter-than-average summer conditions, record output has kept the market well supplied.
Production in the Lower 48 states averaged 108.1 billion cubic feet per day (bcfd) in August, slightly above July’s 107.9 bcfd. However, daily output briefly dipped to a six-week low of 106.4 bcfd.
Weekly storage injections were mixed, with only 13 bcf added, well below market expectations and the five-year norm. LNG export flows edged higher in August, but weather forecasts suggest limited upside in consumption.
