US natgas near 3-month low on record output, lower LNG flows
UNG•Futures hold near three-month low
U.S. natural gas futures edged up but held near a three-month low on Wednesday on record output, lower flows to liquefied natural gas export plants and ample amounts of gas in storage.
On its last day as the front-month, gas futures for August delivery on the New York Mercantile Exchange settled 6.3 cent, or 2.4% higher at $2.725 per million British thermal units (mmBtu), after touching its lowest level since April 30 earlier in the session.
Futures for September, which will soon be the front-month contract, held around $2.72 per mmBtu, putting the premium of the September over August at a record high for a fifth day in a row.
In a sign that the market is not too worried about gas supplies over the next year, the average of futures over the next 12 months fell to $3.12 per mmBtu, its lowest since November 2024.
