Natural Gas Futures Stabilize at $2.72 as Record Domestic Output Continues

US natural gas futures rose to $2.72 per MMBtu on Wednesday, up 0.68% from the prior session, marking a potential floor after four consecutive losing days.

The market has been in freefall since mid-last week, with prices sliding more than 3.5% to $2.77 on Monday and extending the damage on Tuesday, taking futures below $2.70, a three-month low.

The monthly decline is severe, with natural gas falling roughly 17% over the past month and sitting about 10.7% below its price from a year ago.

A key factor behind the market's downturn has been record domestic output, swelling inventories, and softening LNG export throughput.