Commerce data cited by Reuters showed a draw of about 2.6 million barrels, which tightened the domestic balance before the next official EIA report.
The outlook for natural gas remained far less constrained.
The agency expects LNG exports to average 17.3 Bcf/d in the second half of 2026, then increase again in 2027.
Global LNG markets remain tight, especially since the disruption of Hormuz has decreased Qatari supply and prompted Asian buyers to compete with the U.S. for spot LNG cargoes.
Natural Gas Technical Analysis: NG Holds Breakout Above $2.90 as $2.99–$3.03 Becomes the Next Test
The additional signals from United States inventories were supportive. Commerce data cited by Reuters showed a draw of about 2.6 million barrels, which tightened the domestic balance before the next official EIA report.
The outlook for natural gas remained far less constrained. The EIA reported that LNG exports averaged 17.4 Bcf/d in the first half of 2026, an increase of 23% from last year, and capacity continuing to grow at Plaquemines, Corpus Christi Stage 3, and Golden Pass. The agency expects LNG exports to average 17.3 Bcf/d in the second half of 2026, then increase again in 2027.
Global LNG markets remain tight, especially since the disruption of Hormuz has decreased Qatari supply and prompted Asian buyers to compete with the U.S. for spot LNG cargoes. For September 2, the energy balance is geopolitical and decisive: with the renewed military conflict and declining shipments through Hormuz, supplies of oil and LNG become tighter, while increasing U.S. gas production and export capacity is the main buffer.
Natural Gas Technical Analysis: NG Holds Breakout Above $2.90 as $2.99–$3.03 Becomes the Next Test
