US Natural Gas Prices fairly Stable at $2.6/MMBtu

UNITED STATES, Sept. 26 – United States natural gas futures fairly stable and traded around $2.6/MMBtu in the last week of September, driven by strong demand and slightly reduced production estimates, even as the market entered the shoulder period characterized by lower power demand.

Gas production in the United States reduced to 102.11 bcfd in September, down from the August record of 102.3 bcfd.

Also, the oil and gas rig count, an early indicator of future output, dropped by 11 to 630 in the week ending September 22nd.

Notwithstanding, there’s an expectation of gradual production increases by year-end, providing some offset against potential cold spells during the upcoming winter. the Trading Economics learnt.