U.S. natural gas futures edged up about 1% on Thursday on near record flows to liquefied natural gas (LNG) export plants and forecasts for colder weather and higher…
Scott DiSavino
U.S. natural gas futures edged up about 1% on Thursday on near record flows to liquefied natural gas (LNG) export plants and forecasts for colder weather and higher heating demand over the next two weeks than previously expected.
Also supporting U.S. futures, traders noted that European gas prices climbed to a 13-month high due to cold weather and the expiration of a deal that allowed Russia to pipe gas to Europe across Ukraine. [NG/EU]
Front-month gas futures <NGc1> for February delivery on the New York Mercantile Exchange was up 3 cents, or 0.8%, to $3.663 per million British thermal units (mmBtu) at 10:38 a.m. EST (1538 GMT).
In the spot market, frigid weather moving across parts of the U.S. boosted next-day gas prices at the Henry Hub benchmark <NG-W-HH-SNL> in Louisiana and in Chicago <NG-CG-CH-SNL> to their highest levels since January 2024.
SUPPLY AND DEMAND
Financial firm LSEG said average gas output in the Lower 48 U.S. states has risen to 105.0 billion cubic feet per day (bcfd) so far in January, up from 103.8 bcfd in November. That compares with a
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