U.S. natural gas futures rose to a two-week high on Wednesday, supported by forecasts for cooler than expected weather that is anticipated to pull up heating demand, and on near-record gas flows to U.S. liquefied natural gas (LNG) export plants.
Front-month gas futures for May delivery on the New York Mercantile Exchange rose 3.8 cent, or 1.4%, to $2.74 per million British thermal units (mmBtu) at 10 a.m. ET (1400 GMT), after touching its highest level since April 8 earlier in the session.
“The market remains well supported in remaining within easy reach of 2-week highs on the support of cooler temperatures that will be kicking up HDDs during the next couple of weeks in the process of limiting an expected expansion in the supply surplus into next month,” Ritterbusch & Associates said in a note.
READ MORE: US natgas holds near one-week high on lower output
Financial firm LSEG said average gas output in the U.S. Lower 48 states held at 109.4 billion cubic feet per day (bcfd) so far in April. That compares with a monthly record high of 110.7 bcfd in December 2025.
LSEG projected average gas demand in the Lower 48 states, including exports, would rise to 103.5 bcfd this week from 101.4 bcfd last week.
Average gas flows to the nine big U.S. LNG export plants rose to 18.9 bcfd so far in April, up from 18.6 bcfd in March. That reading compares with a monthly record high of 18.7 bcfd in February.
Meanwhile, European gas prices edged higher as the market waited for news on further peace talks after U.S. President Donald Trump said he would indefinitely extend the ceasefire to the Iran-US conflict.
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