US natural gas futures for November delivery settled near $2.96 per MMBtu on October 3, pressured by forecasts for milder-than-expected weather through mid-October that should limit heating and cooling demand. High Lower 48 production near 112–115 Bcf/d and storage inventories at 3,415 Bcf—slightly above the five-year average—continue to weigh on prices despite seasonal cooling. LNG feedgas flows have eased from September highs, while the next EIA storage report due October 8 will clarify injection trends. Traders are watching weather model updates and any revisions to the EIA’s Short-Term Energy Outlook for shifts in the near-term supply-demand balance.