LNG Export Anchor

Feedgas flows to US LNG terminals reached 18.8 Bcf/d in April, a monthly record. This structural export demand is providing a firm floor for domestic prices despite relatively mild spring weather.

Production Curtailments

Major US producers have curtailed output in response to historically low prices earlier this year. Preliminary data shows production hitting a 12-week low, which is helping to rebalance the storage overhang.