US natgas prices fall to 2-month low on LNG maintenance

Financial group LSEG said average gas output in the U.S. Lower 48 states has risen to 110.1 billion cubic feet per day so far in July, up from 110.0 bcfd in June, but has remained below the monthly record high of 110.6 bcfd in December 2025.

Analysts said mostly mild weather during the spring allowed energy firms to stockpile more gas than usual. As they wait for a federal report on Thursday, they projected the amount of gas in storage was 6.6% above normal during the week ended July 10, the same as the previous week. EIA/GAS NGAS/POLL

Meteorologists forecast the weather would remain mostly warmer than normal through July 30, forcing power generators to burn lots of gas to keep air conditioners humming. About 40% of U.S. power generation comes from gas-fired plants.

LSEG projected average gas demand in the Lower 48 states, including exports, would slide from 111.1 bcfd this week to 110.4 bcfd next week. The forecast for this week was higher than LSEG's outlook on Tuesday.