US Natgas Prices Fall 3% Toward 7-Week Low
US natural gas futures dropped 3% to $3.9/MMBtu, nearing a seven-week low, as forecasts for above-average temperatures across much of the country ahead of Christmas suggested weaker heating demand. Prices remain under pressure from record-high production and ample storage, with Lower-48 output estimated at 109.7 Bcf/d in December, broadly in line with the record levels seen in November. EIA data showed withdrawals of 167 bcf from storage for the week ended Dec 12, slightly below expectations, indicating inventories remain 0.9% above the current five-year average. At the same time, deliveries to the eight major US LNG export facilities averaged 18.6 Bcf/d, surpassing November’s record of 18.2 Bcf/d, reflecting strong export flows.