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Natural gas prices ease on lower output reductions and less warm forecasts.
Natural gas experienced a 1.99% decline, closing at 221.1, driven by lower production reductions than expected and forecasts of less warm weather ahead. Despite increased flows to Freeport LNG’s liquefied natural gas (LNG) export facility in Texas, prices fell. Daily output was on a track to decrease by approximately 2.0 billion cubic feet per day (bcfd) to a preliminary near three-month low of 100.1 bcfd. Meteorologists predicted near-normal weather in the lower 48 states until around September 23, followed by a warmer-than-usual period from September 24 to 30.
