US natural gas futures fell on Thursday due to a combination of rising domestic production, reduced LNG export flows, and a near-normal weekly inventory increase.

LSEG data indicates Lower 48 natural gas production in July rose to 110.3 bcfd from 110.0 bcfd in June. This output remains just below the record high of 110.6 bcfd for December 2025.

Meteorologists predict that temperatures will remain mostly above normal through 31 July, forcing power plants to burn massive amounts of natural gas to meet surging air conditioning demand.

The first direct US LNG carrier in over a year has docked at a Chinese terminal, signalling a temporary pause in a complete trade freeze. The US LNG exports are expected to hit a record in 2026.

Trump said US forces would target Iran's infrastructure next week unless the two sides reached a diplomatic breakthrough. Iran warned that it would "crush" key targets in the Middle East in response.

The renewed blockade of the Strait of Hormuz acts as a systemic supply shock to the natural gas market as it is a critical maritime bottleneck controlling approximately 20% of the world’s LNG trade.

EBC Financial Group analyst says, US natural gas forcefully broke below the 50 SMA. If the price closes decisively below the $2.80 support, that could open the door for a fresh leg down toward the next floor at $2.7625.

Asset recap

As of market close on 16 July, among EBC major products, Abbott Laboratories shares led gains. The firm beat Q2 earnings expectations and raised its full-year 2026 profit guidance.

Oracle is caught in a high-stakes balancing act: while it has locked in a staggering $638 billion in backlogged contracts, it is simultaneously taking on massive amounts of debt to build out the cloud infrastructure required to deliver on them.

BofA technical strategists are warning that gold’s year-to-date correction may have significantly further to run, drawing parallels to the devastating bear markets that followed the metal’s major peaks in 1980 and 2011.

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Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.