Natural Gas Prices Moderate as Milder Winter Forecasts Limit Seasonal Spikes

Storage Satiation

U.S. natural gas storage remains 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 even a minor Arctic blast.

LNG Export Floor

The long-term floor is being supported by record LNG feedgas demand. As the U.S. continues to displaces Russian gas in Europe, the Henry Hub price is finding a permanent floor near $3.00 regardless of mild weather.