US Natural Gas Prices Surge on Declining Production and Rising LNG Exports

Natural gas prices have surged by 3.52% to ₹282.5 due to declining US production and rising liquefied natural gas exports, according to Kedia Advisory.

The average Lower 48 gas output in September was 113.0 billion cubic feet per day, up from the August monthly record of 112.2 bcfd, but expected to fall to an 11-week low of 109.8 bcfd due to declines in Louisiana and North Dakota.

US natural gas inventories increased by 44 billion cubic feet in the week ended September 11, below market expectations, and working gas stocks reached 3.298 trillion cubic feet, around 3.6% below year-earlier levels but 3.7% above the five-year average.