US Natgas Prices Soar as LNG Export Flows Hit One-Month High
US natural gas futures rose about 4% to a one-week high on Monday as daily flows to liquefied natural gas (LNG) export plants reached a one-month high. The front-month gas futures for September delivery on the New York Mercantile Exchange (NYMEX) increased by 9.5 cents, or 3.6%, to $2.757 per million British thermal units (mmBtu), putting the contract on track for its highest close since August 3.
Despite being down about 18% over the past seven weeks, speculators boosted their net short futures and options positions on the NYMEX and Intercontinental Exchange to their highest levels since February 2024, according to the U.S. Commodity Futures Trading Commission's Commitments of Traders report.
The rise in natural gas prices comes as average gas output in the US Lower 48 states rose to 111.2 billion cubic feet per day (bcfd) so far in August, up from a monthly record high of 110.7 bcfd in July, according to financial firm LSEG.