Natural Gas Posts a 3% Weekly Gain on Supportive Demand Trends

Natural gas prices climbed 3% to $2.975 per MMBtu this week, driven by a 12% jump in LNG feedgas consumption as export maintenance wrapped and unseasonably warm weather lifted cooling demand. Storage injections fell below the five-year average, tightening the supply cushion despite robust U.S. production levels that capped further upside.

The gain reflects a shift in demand dynamics as LNG facilities returned to full operation and residential and commercial cooling loads exceeded seasonal norms. The combination of lower-than-expected storage builds and the feedgas surge created price support that offset headwinds from continued strong domestic output.

WMB, RRC, and EXE stand to benefit from sustained feedgas demand if LNG facilities maintain elevated run rates through the summer. The price level at $2.975/MMBtu marks the highest close in three weeks and tests resistance established in early May.