US natural gas futures fell toward $4.0/MMBtu, the lowest in over two weeks, as record production and mild weather forecasts through early April reduce the demand for heating. Gas output in the Lower 48 states rose to 105.9 billion cubic feet per day (bcfd) in March, surpassing the February record of 105.1 bcfd. Meteorologists predict warmer-than-normal weather through April 1, likely leading to lower-than-usual withdrawals from storage. However, U.S. liquefied natural gas (LNG) exports continue to rise. Flows to LNG export plants have reached an average of 15.7 bcfd in March, slightly higher than February's record of 15.6 bcfd, boosted by the start of new units at Venture Global’s Plaquemines LNG plant in Louisiana.
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