NEW YORK: US natural gas futures edged up about 1percent on Thursday on forecasts for more demand than previously expected and a drop in output in recent weeks.
That small price increase came despite a drop in gas flows to liquefied natural gas (LNG) export plants for spring maintenance and ahead of a federal report expected to show energy firms added a near-normal 95 billion cubic feet of gas to storage during the week ended May 15.
That compares with an increase of 119 bcf during the same week last year and a five-year (2021-2025) average increase of 92 bcf for the period.
Front-month gas futures for June delivery on the New York Mercantile Exchange rose 3.7 cents, or 1.2percent, to USD3.041 per million British thermal units (mmBtu). Looking forward, the premium of futures for July over June fell to a 13-month low near 14 cents per mmBtu.
Financial group LSEG said average gas output in the US Lower 48 states fell to 109.3 billion cubic feet per day (bcfd) so far in May, down from 109.8 bcfd in April and a monthly record high of 110.6 bcfd in December 2025.
Meteorologists forecast weather will remain mostly warmer than normal through June 5, prompting power companies to burn more gas than usual as some homes and businesses keep their air conditioners cranked up.
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