Affected by increased production in the Permian Basin and a decline in LNG export flows, U.S. natural gas prices have fallen to a 7-week low.

During the past weekend, natural gas production in the Permian Basin rose to over 23 billion cubic feet per day, reaching its highest level since early May. Meanwhile, flows to LNG terminals dropped to their lowest point in over a month. However, weather forecasts indicate that temperatures will rise in the coming weeks. This suggests an increase in gas-fired power generation demand as consumers turn on their air conditioners, which has somewhat limited the decline in prices. Expand