US Natgas Prices Climb to 4-Week High

US natural gas prices climbed to around $3.24/MMBtu on Tuesday, their highest level in four weeks, as colder weather outlook, record LNG export flows, and declining production supported the market.

Forecasts shifted cooler across parts of the central and eastern US through November 20, raising expectations for stronger heating demand in the coming weeks.

Robust LNG export activity also provided support, with average gas flows to the nine major export terminals reaching a record 19.3 bcfd so far in November, surpassing October’s previous monthly record of 18.4 bcfd.

On the supply side, Lower 48 production averaged 112.1 bcfd so far this month, down from 113.4 bcfd in October.

This story was originally published by Hellenic Shipping News. Read the full story at Hellenic Shipping News →