Natural Gas Prices Moderate as Milder Weather Dampens Demand

Storage Surplus

US storage levels remain roughly 4% above the five-year average. With production from the Permian and Appalachian basins hitting record levels, the market has ample cushion to absorb current heating needs.

LNG Export Floor

The long-term floor is being supported by record LNG feedgas demand. As new terminals come online in 2026, the structural pull for US gas will keep a lid on the kind of price collapses seen in previous years.