LNG export demand is the primary variable to watch in the U.S. natural gas market heading into winter, according to Marex North America LLC’s Steve Blair, senior account executive.

The veteran natural gas futures broker joined NGI Senior Markets Editor Kevin Dobbs on NGI’s Hub and Flow podcast to discuss the outlook for U.S. supply, demand and prices as the storage injection season winds down. 

On the supply side, “As we all know, production has been elevated for a while now,” Blair said. Natural gas storage levels, meanwhile, “remain well above year-ago levels and…above the five-year averages, so we obviously have plenty of gas on hand. And it seems that the biggest factor in the U.S. domestic market…has been that LNG export...