Lower 48 DRY GAS Production

Natural gas futures advanced after a smaller-than-expected EIA storage injection pointed to stronger demand from power burn and LNG feedgas. The market remains well supplied, but traders are responding to signs that the surplus is narrowing during a key summer period.

Natural gas futures remain pinned between strong overseas LNG pricing and a domestic supply backdrop that still favors sellers. Export maintenance has limited the ability of U.S. terminals to answer global demand, while Lower-48 output remains elevated.