US natural gas prices dropped to $3.23 per MMBtu after hitting a more than two-week high in the previous session on higher gas flows to LNG export facilities and forecasts of warmer weather. Average flows to major LNG export terminals edged up to 17.2 bcfd so far in June from 17.1 bcfd in May, as liquefaction units, including those at Freeport LNG, returned from maintenance outages. At the same time, forecasts indicate temperatures will remain above normal through July 7, likely increasing gas demand from power generators as air conditioning use rises. On the supply side, average production in the Lower 48 states remained unchanged at 109.7 bcfd so far in June. Inventories remained around 5.8% above normal as of the week ending June 19, signaling a well-supplied market. Separately, two LNG carriers were reportedly en route directly from the US to China.

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