Adds latest prices

By Scott DiSavino

Nov 8 (Reuters) -U.S. natural gas futures eased about 1% on Friday on forecasts for the weather to remain mild through late November, keeping heating demand low and allowing utilities to keep injecting more gas than usual into storage for a couple more weeks.

There is currently about 6% more gas in storage than normal for this time of year. Analysts projected utilities this week would add more gas than normal into storage for a fourth week in a row for the first time since October 2022. EIA/GAS NGAS/POLL

Prior to the last few weeks, storage injections had been smaller than usual for 14 weeks in a row because many producers have reduced drilling activities so far this year after average spot monthly prices at the U.S. Henry Hub NG-W-HH-SNL benchmark in Louisiana fell to a 32-year low in March. Prices have remained relatively low since then, dropping to a 23-year low in October.

Front-month gas futures NGc1 for December delivery on the New York Mercantile Exchange fell 2.4 cents, or 0.9%, to settle at $2.669 per million British thermal units.

That put the contract up less than 1% for the week after it gained 4% last week and 13% two weeks ago.

SUPPLY AND DEMAND

Financial firm LSEG said average gas output in the Lower 48 U.S. states slid to 100.7 billion cubic feet per day so far in November from 101.3 bcfd in October. That compares with a record 105.3 bcfd in December 2023.

On a daily basis, output over the past four days fell by 2.0 bcfd to a preliminary five-month low of 99.6 bcfd on Friday. Analysts have noted that preliminary data is often revised later in the day.

Recent output declines were due mostly to pipeline issues and curtailments in the Gulf of Mexico for Hurricane Rafael.

The U.S. National Hurricane Center projected Rafael would circle around the middle of the Gulf of Mexico as it weakens into a tropical storm over the weekend and becomes a tropical depression as it heads near Mexico next week.

Even though Rafael was not expected to make landfall in the United States, several U.S. energy firms still curtailed oil and gas output from their offshore Gulf of Mexico platforms.

The U.S. Bureau of Safety and Environmental Enforcement said energy firms cut Gulf of Mexico gas production by about 11% on Friday, up from 10% on Thursday. But unlike 20 years ago, when 20% of U.S. gas production came from the federal offshore Gulf of Mexico, that offshore region only produces about 2% of the country's gas. That 11% of gas curtailed only represented about 0.2 bcfd.

Meteorologists projected the weather in the Lower 48 states would remain warmer than normal through at least Nov. 23. But even warmer-than-normal weather in late November was still colder than warmer-than-normal weather in early November.

So with cooler weather coming, LSEG forecast average gas demand in the Lower 48, including exports, would rise from 102.0 bcfd this week to 104.1 bcfd next week and 110.0 bcfd in two weeks.

The amount of gas flowing to the seven big U.S. LNG export plants has slid to an average of 12.6 bcfd so far in November, down from 13.1 bcfd in October. That compares with a monthly record high of 14.7 bcfd in December 2023.

Reporting by Scott DiSavino; Editing by Paul Simao

For gas data on the LSEG terminal type ENERGY in the search bar and then go to the GAS drop down and the NORTH AMERICA drop down.

For Interactive Map, type 'Interactive Map' in the box at upper left of the LSEG terminal

For graphics on Baker Hughes rig counts, see: http://graphics.thomsonreuters.com/15/rigcount/index.html

For next-day SNL U.S. gas prices, see: 0#SNL-NG

For next-day SNL U.S. power prices, see: 0#SNL-PWR

For U.S. natgas price and storage polls, see: NGAS/POLL

For U.S. nuclear power outages, see: NUKE/

For U.S. Northwest hydro power report, see: NWRFC

For U.S./Canada natural gas rig count vs Henry Hub futures price, see: http://tmsnrt.rs/2eT9k44

For the U.S. natural gas speed guide, see: USGAS

For the U.S. power speed guide, see: USPOWER

To determine CFTC managed money net position add (NYMEX Henry Hub options and futures combined 3023651MNET) plus (ICE Henry Hub options and futures combined 3023391MNET divided by four) plus (NYMEX Henry Hub swaps options and futures combined 303565BMNET divided by four) plus (NYMEX Henry Hub penultimate gas swaps 303565CMNET divided by four)

NYMEX Henry Hub options and futures combined 0#3CFTC023651

NYMEX Henry Hub futures only 0#1CFTC023651

ICE Henry Hub options and futures combined 0#3CFTC023391

NYMEX Henry Hub swaps options and futures combined 0#3CFTC03565B

NYMEX Henry Hub Penultimate gas swaps 0#3CFTC03565C