Commodities
Natural Gas Prices Stabilize at $2.97/MMBtu Amid High Production and Strong LNG Demand
Natural gas prices have stabilized around $2.97/MMBtu after recovering from August lows, but remain below the psychologically important $3.00 level.
The market has struggled to break above the $3.03, $3.06 zone, where selling has appeared in recent sessions.
Despite a narrowing storage surplus and strong LNG demand, U.S. production remains high at around 111 Bcf/d, which may put pressure on prices as temperatures decline and power burn decreases.
The EIA expects inventories to reach 3.969 Tcf by the end of October, but record growth in electricity consumption and data center expansion continue to support higher structural demand.