US natgas prices rise to two-week high on LNG exports, hotter forecasts

Average gas flows to the nine big U.S. LNG export plants eased to **17.1 bcfd** so far in August, down from **17.2 bcfd** in July and a monthly record high of **17.4 bcfd** in June. On a daily basis, however, LNG feedgas was on track to rise to **17.4 bcfd** on Wednesday, up from **16.4 bcfd** on Tuesday and in line with an average of **17.4 bcfd** over the prior seven days. The U.S. became the world's biggest LNG exporter in 2023, surpassing Australia and Qatar, as surging global prices fed demand for more low-cost U.S. gas. Around the world, gas was trading around **$21 per mmBtu** at both the Dutch Title Transfer Facility (TTF) benchmark in Europe and the Japan-Korea Marker (JKM) benchmark in Asia. Meteorologists forecast the weather would remain mostly warmer than normal through **August 27**, forcing power generators to continue burning significant volumes of gas to keep air conditioners running. 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 **115.0 bcfd** this week to **112.2 bcfd** next week. Those forecasts were higher than LSEG's outlook on Tuesday. In other news, over **729,000 homes and businesses** were without power on Wednesday as severe storms battered the U.S. Midwest, according to data from PowerOutage.us. Depending on the length of those outages, the amount of gas burned to produce electricity could decline a bit this week. Financial firm LSEG said average gas output in the U.S. Lower 48 states rose to **111.1 billion cubic feet per day (bcfd)** so far in August, up from a monthly record high of **110.7 bcfd** in July. Record output and mild spring weather so far this year have allowed energy firms to keep the amount of gas in inventory higher than the five-year (2021-2025) average since March. Analysts said the amount of gas in storage would likely ease to a still high **6.6% above normal** during the week ended August 7, down from **6.7% above normal** in the previous week, according to estimates ahead of the weekly federal inventory report on Thursday. U.S. natural gas futures edged up to a two-week high on Wednesday on a daily rise in gas flows to liquefied natural gas (LNG) export plants and forecasts for hotter weather and higher demand over the next two weeks than previously expected. Front-month gas futures for September delivery on the New York Mercantile Exchange rose 3.7 cents, or 1.3%, to settle at **$2.804 per million British thermal units (mmBtu)**, after touching its highest since July 27 earlier in the session.

US natgas prices rise to two-week high on LNG exports, hotter forecasts

LNG feedgas flows rise

Weather forecasts and outages shape demand outlook

Supply stays strong as storage remains above normal

Natgas futures climb on hotter weather and LNG demand

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