US natural gas futures rose to $2.67 per MMBtu on Monday but remained close to a seventeen-month low, as ample supply and subdued demand continued to weigh on prices. The EIA reported a 50 Bcf injection into storage for the week ended April 3, exceeding market expectations of a 46 Bcf build and accelerating from the previous week’s 36 Bcf increase. At the same time, mild weather forecasts across key US regions are keeping heating demand low, allowing utilities to continue adding gas to storage at an above-average pace for at least several more weeks. Meanwhile, geopolitical tensions escalated after President Donald Trump ordered a blockade of the Strait of Hormuz following failed talks with Iran, raising concerns over prolonged disruptions to global energy flows. However, US natural gas prices remain largely insulated from Middle Eastern supply risks due to robust domestic production, ample storage levels, and limited short-term exposure to international trade flows.
