26.06.202515:07:21UTC+00US Natgas Prices Fall to 5-Week Low

U.S. natural gas futures have dropped to approximately $3.42/MMBtu, reaching their lowest point in five weeks amid increased production and a more significant-than-anticipated storage build. The Energy Information Administration (EIA) reports that U.S. utilities injected 96 billion cubic feet of gas into storage for the week ending June 20, marking the tenth consecutive week of above-average injections. Average production in the Lower 48 states has risen to 105.5 billion cubic feet per day (bcfd) in June, an increase from 105.2 bcfd in May, contributing to the robust supply. Although projections indicate persistently hotter-than-normal weather over the coming two weeks, temperatures are expected to subside from this week's peak. Furthermore, natural gas deliveries to the eight major U.S. LNG export terminals have decreased to 14.1 bcfd in June so far, down from 15.0 bcfd in May.