2026.03.2603:30:22UTC+00US Natural Gas Remains Near 3-Week Lows

US natural gas futures edged up to $2.96 per MMBtu on Thursday but remained close to a three-week low as traders awaited the EIA’s weekly storage report, due later in the day. The data are expected to show inventories holding slightly above the five-year average, with forecasts pointing to a 51 Bcf withdrawal—likely the final draw of the winter season.

Weather outlooks indicate temperatures will stay warmer than normal through April 9, which should curb natural gas demand in the coming weeks. On the geopolitical front, Iran rejected a US ceasefire proposal in the Middle East and put forward its own framework for negotiations. Nevertheless, the White House stated that discussions with Tehran remain ongoing and productive, despite Iran’s public denials.

Despite these geopolitical risks, the US natural gas market remains largely shielded from external supply shocks. Domestic production is sufficient to meet internal demand, and LNG export facilities are already operating at full capacity, limiting any additional export volumes even if global prices rise.