Natgas Prices Fall as US Braces for Autumn-Like Weather

US natural gas prices have taken a step back on Monday after rising last week by 1.5%. The price of $2.73 per million British thermal units marks a decline from recent gains, thanks to an impending cold front bringing autumn-like conditions to the eastern United States.

The broad cold front is expected to reduce demand for gas-fired power generation, weighing on prices. Meanwhile, strong production and relatively mild weather earlier this year have kept inventories above the five-year average since March.

Production levels in the Lower 48 states are at an all-time high, reaching 111.5 billion cubic feet per day so far in August, surpassing July's record of 110.7 bcfd.