U.S. Natural Gas Prices Dip as LNG Export Plant Feedgas Hits 15-Week Low

Deep News05-14 23:11

U.S. natural gas futures edged lower on Thursday. During the spring maintenance season, feedgas flows to liquefied natural gas (LNG) export plants are projected to fall to a 15-week low. The front-month June natural gas futures contract (NGc1) on the New York Mercantile Exchange declined by 3.6 cents, or 1.3%, settling at $2.828 per million British thermal units. The U.S. Energy Information Administration (EIA) reported that for the week ending May 8, energy companies added 85 billion cubic feet to natural gas storage. This build matched expectations and was close to the normal seasonal level. The reported figure aligned with analysts' survey forecasts of an 85 billion cubic feet increase. It was below the 109 billion cubic feet build recorded in the same week last year and slightly above the five-year (2021-2025) average build for that week of 84 billion cubic feet.

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