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Natural Gas News: Futures Aim for $3.730 as Heat and LNG Demand Drive Market Today

FXEmpire · last updated

Meanwhile, Lower 48 dry gas production continues to hover near 107.0 Bcf/d, up 3.0% year-over-year, offering a steady supply base.

Domestic demand, however, dipped to 79.5 Bcf/d on Tuesday, down 6.5% from the prior year, tempering some of the bullish momentum.

Is Storage Still a Concern After the Latest EIA Print?

The latest EIA report added fuel to the rally. Storage for the week ended July 4 rose by just 53 Bcf—below the 61 Bcf consensus and exactly in line with the five-year average.

While inventories are still 6.1% above seasonal norms, they are 6.0% lower year-over-year, which keeps a mild bullish tilt in place.

Traders are also monitoring European storage levels, now at 61% full versus a 71% five-year seasonal norm—another supportive signal for U.S. exports.

Short-Term Outlook: Bullish Momentum Intact Above Key Technical Levels

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