US Natgas Prices Climb on Near-Record LNG Flows and Winter Storm Demand
US natural gas futures rose about 1% to a one-week high on Monday as another winter storm battered the US Northeast, bringing more demand than previously expected over the next two weeks. The March delivery contract on the New York Mercantile Exchange increased by 4.3 cents, or 1.4%, to $3.090 per million British thermal units.
The Waha Hub in the Permian Basin in West Texas remained in negative territory for a record 12th day in a row due to pipeline constraints trapping gas in the nation's biggest oil-producing basin. Average daily prices at the Waha Hub have averaged 76 cents per mmBtu so far this year, compared to $1.15 in 2025 and a five-year average of $2.88.
The financial firm LSEG reported that average gas output in the Lower 48 states has climbed to 108.7 billion cubic feet per day in February, up from 106.3 bcfd in January. Despite the winter storm, meteorologists predicted weather across much of the country would remain mostly near normal through at least March 10.