North American natural gas futures kept sinking this week amid strong U.S. production and a weak demand outlook. January New York Mercantile Exchange natural gas futures closed up marginally Thursday at $2.585/MMBtu.

On Wednesday, ExxonMobil released an updated corporate plan that showed a delay at Golden Pass LNG Train 1, with the project now expected to be done in the first half of 2025. This sent prices lower as promised new natural gas demand would come onstream later than expected.

Wood Mackenzie analysts also see U.S. production stubbornly high at around 105.5 Bcf/d in the upcoming seven days.

In news related to Latin America, analysts noted that Venezuela’s saber-rattling in relation to Guyana could also have the knock-on effect of higher oil prices, boosting U.S....