US Natgas Prices Edge Up from 3-Week Low
US natural gas futures climbed toward $3.9/MMBtu, rebounding from an over three-week low, as Freeport LNG’s Texas export plant resumed operations after a lightning strike shut it down Monday. This restart is expected to boost gas flows to LNG export facilities, which have averaged 15.7 bcfd so far in March, up from a record 15.6 bcfd in February. The increase comes as new units at Venture Global’s 3.2-bcfd Plaquemines LNG plant in Louisiana begin service. Meanwhile, meteorologists predict above-normal temperatures across the Lower 48 states through April 9, likely reducing demand and allowing utilities to add to storage. Analysts suggest gas stockpiles may rise in March for the first time since 2012. Additionally, average gas output in the Lower 48 has climbed to 106.0 bcfd so far in March, surpassing February’s record 105.1 bcfd.