On Tuesday, June Nymex natural gas prices closed down by 2.76%, falling by $0.079 due to a significant drop in flows to US liquefied natural gas (LNG) export terminals, which decreased to 17.7 billion cubic feet (bcf)—the lowest level in over three months. This reduction, attributed to seasonal maintenance, has resulted in a surplus of natural gas in the domestic market, causing US storage levels to be 7.7% above the five-year average as of April 24.
Current US dry natural gas production was reported at 110.7 bcf/day (up 3.4% year-over-year), while demand reached 68.5 bcf/day (up 4.5% year-over-year) on Tuesday. The Energy Information Administration (EIA) has also raised its forecast for 2026 US dry natural gas production to 109.59 bcf/day, signaling ongoing high production levels which could pressure prices further. Meanwhile, the number of active US nat-gas drilling rigs increased to 130 in the week ending May 1, just below the recent high of 134 rigs.
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