US gas prices up 2% on lower daily production

According to Reuters, US natural gas prices rose 2% on Thursday. This was the result of lower daily production and record shipments to export facilities.

The US Energy Information Administration (EIA) reported that 37 billion cubic feet of gas was withdrawn from storage in the previous week. The actual data exceeded analysts' expectations of 25 billion cubic feet.

However, the country's gas reserves were still about 7% below the seasonal average for the month. This was due to unusually cold weather in the first two months of 2025, which led to an increase in electricity consumption.

LSEG expects domestic gas demand to decline as weather conditions improve. At the same time, the company reports signs of increasing overseas supplies. Gas flows to the eight major active US LNG export plants rose to a daily 15.8 billion cubic feet in March from 15.6 billion in February.

In addition, domestic energy production fell by 2.3 billion cubic feet per day over the last three days, LSEG said in a report.