US Natural Gas Futures Rise on Record LNG Flows and Output Drop

U.S. natural gas futures increased by approximately 2% on Wednesday, reaching a one-week high due to record gas flows to liquefied natural gas (LNG) export facilities and a decrease in daily output. April delivery futures rose to $4.137 per million British thermal units (mmBtu). This price surge occurred despite forecasts indicating reduced demand over the next two weeks, with mild weather expected to persist into early April. Financial firm LSEG reported that average gas output in the Lower 48 U.S. states has risen to 105.8 billion cubic feet per day (bcfd) so far in March, up from a record 105.1 bcfd in February. Gas flowing to the eight major U.S. LNG export plants has averaged 15.7 bcfd in March, surpassing February's record of 15.6 bcfd.