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On Wednesday, November Nymex natural gas (NGX25) prices closed down by 4.72%, falling by 0.165, influenced by a mixed US weather forecast that may lower heating demand. Atmospheric G2 reported a cooler trend for the eastern U.S. from October 13-17 but warmer temperatures are expected for the southern and eastern regions from October 18-22.
US natural gas production is currently near record highs with an output of 106.8 bcf/day, a 4.7% increase year-on-year, as reported by BNEF. The EIA adjusted its 2025 US nat-gas production forecast upward by 0.5% to 107.14 bcf/day. Upcoming EIA nat-gas inventories are anticipated to rise by 77 bcf for the week ending October 3, which is below the five-year average of 94 bcf.
In the week ending October 4, US electricity output increased by 2.91% year-on-year to 80,972 GWh. Baker Hughes noted that the number of active US nat-gas rigs rose by one to 118 during the week ending October 3, still under the two-year high of 124 rigs recorded on August 1.
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