LNG Demand Keeps Natural Gas Prices Above $3.00/MMBtu

Natural gas prices are trading around $2.99/MMBtu on September 22, consolidating directly above the psychological $3.00 level. Despite several attempts to hold above $3.02, $3.04, selling pressure has met each move.

The hourly chart shows that pullbacks into the $2.96, $2.97 area are being quickly bought, while the longer-term moving average is running slightly lower at around $2.97. As long as the price holds above this zone, the structure remains neutral to positive.

LNG demand continues to support prices, with gas flows to LNG terminals rising to around 19.6 Bcf per day in mid-September, one of the highest levels since spring. This combination of high domestic supply and steady export demand is keeping Henry Hub around $3 instead of allowing a more pronounced trend to develop.