# US Natural Gas Futures Fall Below $3.20 as Mild Weather Forecasts Curb Energy Demand

- URL: https://stocks.freetheai.org/news/us-natural-gas-futures-fall-below-3-20-as-mild-weather-forecasts-curb-energy-c03f26
- Published: 2026-10-14T14:36:09Z
- Category: commodities; sentiment: bearish; impact: medium
- Symbols: [NYMEX:NG1!](https://stocks.freetheai.org/symbols/NYMEX-NG1!)
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Henry Hub Natural Gas Futures (NYMEX:NG1!) dropped 3.35% to $3.173 per million British thermal units, pulling back from a nearly three-week peak of $3.283 reached on October 13. The decline came as forecasts indicated mild weather across the country through October 29, which is expected to limit demand for both home heating and air conditioning.

Export activity also showed signs of easing, with average feedgas deliveries to nine major US liquefied natural gas terminals slowing to 17.5 billion cubic feet per day so far in October, down from 17.9 billion cubic feet per day in September. However, production declines helped cushion the sell-off. Output in the Lower 48 states dropped to 110.8 billion cubic feet per day in October from record averages of 113.3 billion cubic feet per day in August and September, affected by hurricane shut-ins in the Gulf of Mexico, pipeline disruptions, and force majeure declarations.

Traders are now focused on Thursday's upcoming government storage report. Industry analysts estimate that natural gas inventories fell to 1.6% above seasonal norms for the week ending October 9, down from 2% in the previous week.

## Key points

- Henry Hub Natural Gas Futures fell 3.35% to $3.173 per MMBtu, retreating from a nearly three-week peak of $3.283.
- Forecasts for mild weather across the country through October 29 are expected to restrain heating and cooling demand.
- LNG feedgas deliveries to nine key US terminals dropped to 17.5 billion cubic feet per day in October from 17.9 bcfd in September.
- Lower 48 domestic production decreased to 110.8 bcfd in October due to hurricane shut-ins, pipeline disruptions, and force majeure events.
- Analysts expect upcoming government data to show inventories at 1.6% above seasonal norms for the week ending October 9.

## Questions and answers

### Why are US natural gas prices falling?

Natural gas prices are falling due to weather forecasts calling for mild temperatures across the US through October 29, which reduces demand for both heating and cooling. Lower feedgas deliveries to major export terminals also weighed on prices.

### What is the current US natural gas production level?

Lower 48 domestic gas production averaged 110.8 billion cubic feet per day in October, down from record averages of 113.3 bcfd in August and September due to hurricane shut-ins, pipeline disruptions, and force majeure events.

### What are analysts expecting for US natural gas inventories?

Analysts estimate that US natural gas inventories dropped to 1.6% above seasonal averages for the week ending October 9, down from 2% in the prior week, ahead of the upcoming government storage report.