U.S. natural gas futures fell for a second straight session on Monday, as ample supplies kept pressure on the market despite forecasts for hotter weather in the coming weeks. On its first
U.S. natural gas futures fell for a second straight session on Monday, as ample supplies kept pressure on the market despite forecasts for hotter weather in the coming weeks.
On its first day as the front-month, gas futures for August delivery on the New York Mercantile Exchange fell 8.2 cents, or 2.5%, to $3.20 per million British thermal units. The contract is down 2.7% so far this month.
"The market thinks the heat wave is going to be short-lived and that next week temperatures will cool back to normal. With production remaining strong, that's keeping the market relatively well supplied, and that is driving prices lower," said Phil Flynn, senior analyst for Price Futures Group.
Financial group LSEG said average gas output in the U.S. Lower 48 states held at 110 billion cubic feet per day so far in June, slightly higher than May. That compares with a monthly record high of 110.6 bcfd in December 2025.
The U.S. Energy Information Administration (EIA) said last week that energy firms added a near-normal 76 billion cubic feet (bcf) of gas into storage during the week ended June 19, keeping overall stockpiles around 5.7% above normal levels for this
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