US Natgas Prices Jump Amid Record Output, Rising LNG Exports

US natural gas futures surged about 4% on Monday to a one-week high as daily flows to liquefied natural gas (LNG) export plants reached a one-month high.

The front-month contract for September delivery on the New York Mercantile Exchange (NYMEX) rose by 9.5 cents, or 3.6%, to $2.757 per million British thermal units (mmBtu), marking its highest close since August 3.

This price increase comes despite average gas output in the US Lower 48 states rising to a new monthly record high of 111.2 billion cubic feet per day (bcfd) so far in August, according to financial firm LSEG.