US natural gas futures were trading below $3.4/MMBtu, closing in on their lowest level since June 2021, as soaring domestic production and high storage levels offset prospects of a recovery in demand amid forecasts of a cold spell. US natural gas production is likely to grow more than 2% this year to a record daily average of 100.3 billion cubic feet, the Energy Information Administration said. At the same time, EIA data showed that utilities unexpectedly injected 11 bcf into storage last week. Adding to the bearish tone, the Freeport LNG export plant in Texas, forced to go offline in June following a fire, again delayed the restart to the second half of January, leaving more supply on the domestic market. Still, arctic weather will move into the United States next week, resulting in below-normal temperatures, which, in turn, should boost demand for heating and push prices higher.
im not sure I see the link between coal and NG other than they can both be used for heating the home.
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