“`html
On Wednesday, January Nymex natural gas closed at $5.00 per million British thermal units, up +0.155 (+3.20%), reaching a near three-year high. This increase was driven by forecasts of colder-than-normal weather in the U.S., particularly in the Northeast and Great Lakes, which is expected to enhance natural gas heating demand.
According to BNEF, U.S. dry gas production was reported at 112.0 bcf/day, a 6.4% year-over-year increase, while gas demand stood at 113.1 bcf/day, a 2.6% rise year-over-year. Estimated LNG net flows to U.S. export terminals decreased to 17.5 bcf/day, down 4.9% week-over-week. Additionally, U.S. electricity output rose by 2.11% year-over-year to 76,459 GWh for the week ending November 29.
On November 12, the EIA increased its forecast for U.S. natural gas production in 2025 by 1.0% to 107.67 bcf/day. The number of active U.S. natural gas drilling rigs also saw a rise, reaching 130 rigs as of November 28, marking a 2.25-year high.
“`
