U.S. natural gas prices rise to a two-week high as LNG exports resume and hot weather boosts demand

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智通财经2026/08/12 14:11

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US natural gas futures rose about 1.1% on Wednesday to around $2.8 per million British thermal units, marking the highest closing level since July 24, buoyed by a recovery in LNG export volumes and expectations of hot weather over the next two weeks.
The flow of gas to the nine major US LNG export terminals rebounded to about 17.4 billion cubic feet per day on Wednesday from about 16.4 billion cubic feet the previous day, close to the seven-day average. The marginal recovery in export demand is providing support for gas prices.
Weather forecasts indicate that temperatures across most parts of the US will remain above normal levels until August 27. Power companies will need to continue burning large amounts of natural gas to meet air-conditioning demand, with gas-fired power accounting for about 40% of total US electricity generation.
The average natural gas production in the 48 contiguous US states is expected to reach about 111.1 billion cubic feet per day in August, up from a record high of around 110.7 billion cubic feet per day in July. While production remains at a high level, it is no longer the main factor suppressing prices.
In terms of inventory, analysts estimate that as of the week ended August 7, stocks remain about 6.6% above the five-year average, narrowing slightly from the previous week's surplus of about 6.7%. Record production and a mild spring have kept inventory at surplus levels since March.
Severe storms in the Midwest led to power outages for more than 729,000 households and businesses, which may slightly reduce gas-fired power demand within the week, but the overall impact is limited. Subsequent attention will focus on whether LNG export flows can remain at current high levels and if hot weather will continue into the end of August.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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