Nat-gas prices gave up an early advance on Monday, fell to a 2-week low, and settled lower. The outlook for mild US autumn temperatures that could curb nat-gas heating demand is weighing on prices. The Commodity Weather Group forecasts above-normal temperatures for the eastern two-thirds of the US through the end of this month.
Nat-gas prices initially moved higher on Monday on ramped-up US nat-gas exports, which shrink domestic supplies. Estimated LNG net flows to US LNG export terminals on Monday rose to a nearly 2-year high of 21.2 bcf/day. Nat-gas prices also had positive carryover on Monday from a rally in European nat-gas prices to a 3.75-year high. European nat-gas prices are surging amid tight supplies ahead of the winter season, when demand typically doubles, potentially boosting European demand for US gas supplies.
