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2025-10-20 21:46:46
US Natural Gas Prices Surge 8% in a Single Day, Sudden Tightening of Supply and Demand. ⑴ US natural gas futures surged 8% on Monday to a one-week high, with the November contract closing at $3.248 per million British thermal units (MMBtu). ⑵ The price surge was primarily driven by forecasts predicting significantly colder temperatures over the next two weeks, significantly increasing heating demand expectations. ⑶ Natural gas production in the Lower 48 states has declined so far this month, with average daily output falling to 106.6 billion cubic feet. ⑷ LNG export flows are nearing historic highs, with an average daily export volume of 16.4 billion cubic feet in October, exacerbating domestic supply pressures. ⑸ Although current inventory levels are 4% above average, surging demand and declining production have combined to tighten market sentiment. ⑹ The weather agency's latest forecast revised the two-week temperature outlook from "generally above normal" to "near normal," reinforcing expectations of colder weather. ⑺ The agency predicts natural gas demand in the Lower 48 states will rise from 101.5 billion cubic feet per day this week to 105.5 billion cubic feet per day next week. ⑻ The United States has become the world's largest liquefied natural gas producer since 2023, with benchmark prices in Europe and Asia remaining at a high of US$11 per million British thermal units.
