Natural Gas Inches Down from 4-Week High after Storage Report

US natural gas futures rose to $3.10 per MMBtu on Thursday, easing from the four-week high of $3.12 amid ample global demand for gas, offsetting storage data that pointed to a strong domestic build. Figures from the EIA reflected an increase of 55 billion cubic feet of natural gas storage on the last week of August, in line with expectations. The result consolidated ample storage levels in the US despite the soaring flows of the commodity out of the country. Exports of liquified natural gas out of US ports rose to a record high of 9.33 tonnes amid stronger demand from Europe and added capacity in LNG plants following the end of maintenance periods in the Plaquemines facility. In the meantime, the EIA noted in another report that the US will reach a new peak in 2025, totalling 91.4 bcf per day.