October Nymex natural gas closed up 1.38% on Monday, reaching a 1-month high due to supply concerns and forecasts for warmer late-summer US temperatures. Repair delays at a gas compressor station in Texas are reducing gas flows between Texas and Louisiana.

US natural gas production is at a record high, with the EIA raising its forecast for 2025 and 2026 production. Monday saw US dry gas production at 108.1 bcf/day, state gas demand at 69.8 bcf/day, and estimated LNG net flows at 15.2 bcf/day, according to BNEF.

US electricity output fell 7.82% year-over-year last week, but rose 2.77% in the 52-week period ending August 30. The EIA reported a neutral weekly inventory increase of 55 bcf for the week ended August 29, signaling adequate natural gas supplies.

The number of active US natural gas drilling rigs fell by 1 to 118 rigs in the week ending September 5, down from the 2-year high of 124 rigs. In the past year, the number of gas rigs has risen from a 4.5-year low of 94 rigs reported in September 2024.

Read more at Yahoo Finance: Nat-Gas Prices Climb on Supply Concerns and Forecasts for Warmer US Temps