U.S. Natural Gas holds near 4-week high as storage builds match forecasts
U.S. natural gas stayed near a four-week high Thursday after EIA data showed inventories rose by 55 Bcf to 3,272 Bcf for the week ending Aug. 29, in line with expectations. Stocks remain 2.2% below last year but 5.6% above the five-year average, signaling ample supply despite record LNG exports and strong demand.
Higher production, with dry gas output at 107.1 Bcf/day, continues to pressure prices, while weather forecasts calling for warmer temperatures in mid-September may support short-term demand. LNG flows hit 15 Bcf/day, near record highs, as U.S. exports remain strong amid European and Asian demand.
U.S. natural gas stayed near a four-week high Thursday after EIA data showed inventories rose by 55 Bcf to 3,272 Bcf for the week ending Aug. 29, in line with expectations. Stocks remain 2.2% below last year but 5.6% above the five-year average, signaling ample supply despite record LNG exports and strong demand.
Higher production, with dry gas output at 107.1 Bcf/day, continues to pressure prices, while weather forecasts calling for warmer temperatures in mid-September may support short-term demand. LNG flows hit 15 Bcf/day, near record highs, as U.S. exports remain strong amid European and Asian demand.
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