US natural gas futures slipped Monday as pipeline flows to Gulf Coast LNG export facilities fell for a third straight day. The decline centered on Sabine Pass LNG in Louisiana and Corpus Christi LNG in Texas, where reduced volumes suggest weaker overseas demand or operational issues. Futures markets reacted quickly to the supply imbalance.

With less gas moving offshore, more supply remains in domestic storage ahead of peak summer cooling demand. Air conditioning usage typically drives higher gas-fired power generation from June through August. Current stockpiles already sit above the five-year average, creating a bearish backdrop for prices.

The three-day flow reduction signals that either LNG buyers are canceling cargoes or export facilities face operational constraints. Either way, the glut of pipeline gas compounds seasonal oversupply concerns. Traders are watching weather forecasts closely—hotter-than-normal temperatures could absorb excess inventory.

For now, the futures curve reflects skepticism about near-term demand recovery. Without stronger export demand or a significant heat-driven consumption spike, the market faces downward pressure through the summer months.