US Natgas Prices Steady Above $2.3
US natural gas futures held above $2.30/MMBtu, close to a two-month high, as investors watch demand forecasts and production levels. On Friday, US Gulf Coast energy facilities began restarting operations after assessing Hurricane Francine's impact, with ports reopening and terminals resuming acceptance of oil and LNG tankers. Meanwhile, the EIA reported a 40 bcf increase in storage for the week ending September 6, falling short of forecasts, last year's 50 bcf, and the five-year average of 67 bcf. Looking ahead, producers are expected to cut output further in late 2024 following a 40% price drop over the past two months.