05.02.202610:53:58UTC+00US Natgas Prices Little Changed Ahead EIA Data

U.S. natural gas futures remained largely stable at $3.45 per million British thermal units on Thursday, as market participants awaited the forthcoming weekly report from the Energy Information Administration (EIA), balancing robust liquefied natural gas (LNG) demand against forecasts of milder weather conditions. Analysts predict that last week's Arctic blast led to significant withdrawals, resulting in shifting inventory levels from approximately 5% above the norm to about 1% below typical levels for this time of year, thus tightening supplies. Gas flows to the eight largest U.S. LNG export facilities averaged 18.3 billion cubic feet per day (bcfd) so far in February, an increase from 17.8 bcfd in January and close to December's record of 18.5 bcfd, indicating strong global demand for American gas. The United States claimed the position of the world's largest LNG exporter in 2023, following supply disruptions caused by Russia's 2022 invasion of Ukraine. While a nationwide warmer trend is expected to persist through February 19, the Northeast is anticipated to experience colder temperatures for an additional week. Production in the Lower 48 states has slightly risen to 106.4 bcfd but remains below the record levels observed in December.