September Nymex natural gas closed down -0.89% on Monday due to forecasts for cooler US temperatures. The EIA raised its forecast for 2025 US nat-gas production to 106.44 bcf/day, with production currently near a record high. US dry gas production and demand are up y/y, with LNG net flows to US export terminals down.

US electricity output fell -1.9% y/y last week, but rose +2.6% y/y in the 52-week period ending August 9. The EIA report last Thursday showed an increase in nat-gas inventories, slightly bearish for prices. Nat-gas inventories are down -2.4% y/y but are +6.6% above the 5-year seasonal average, indicating adequate supplies.

The number of active US nat-gas drilling rigs fell by -1 to 122 rigs last week, moving away from the 2-year high of 124 rigs. Gas rigs have increased from the 4-year low of 94 rigs reported in September 2024. Nat-gas prices settled lower due to cooler US temps, with all data in this article for informational purposes only.

Read more at Yahoo Finance: Nat-Gas Prices Settle Lower on Forecasts for Cooler US Temps