Natural Gas

Today in Energy

Recent Today in Energy analysis of natural gas markets is available on the EIA website.

Market Highlights:

Prices

• Henry Hub spot price: The Henry Hub spot price fell 8 cents from $2.82 per million British thermal units (MMBtu) last Wednesday to $2.74/MMBtu yesterday.
• Henry Hub futures price: The price of the July 2025 NYMEX contract decreased 21 cents, from $3.716/MMBtu last Wednesday to $3.507/MMBtu yesterday. The price of the 12-month strip averaging July 2025 through June 2026 futures contracts declined 13 cents to $4.062/MMBtu.
• Select regional spot prices: Natural gas spot prices were lower at most locations this report week (Wednesday, June 4, to Wednesday, June 11). Price changes ranged from a $2.12/MMBtu decrease at the Algonquin Hub to a $1.24/MMBtu increase at the FGT Citygate.
• In the Southeast, the FGT Citygate price, which reflects deliveries into Florida via the Florida Gas Transmission system, increased $1.24 this report week, from $3.15/MMBtu last Wednesday to $4.40/MMBtu yesterday. Temperatures in the Orlando Area rose in the middle of the report week and reached an average high of 85°F on Tuesday, 4°F above normal. The Southeast region had 142 more cooling degree days (CDDs) than the previous week, 59 more CDDs than normal. Natural gas consumption in the Southeast electric power sector rose 12% (1.2 Bcf/d), according to data from S&P Global Commodity Insights, as higher-than-average temperatures mid-week increased air-conditioning consumption. FGT reported scheduled maintenance that has reduced natural gas transportation capacity into parts of Florida.

Daily spot prices by region are available on the EIA website.

• International futures prices: International natural gas futures prices increased this report week. According to Bloomberg Finance, L.P., weekly average front-month futures prices for liquefied natural gas (LNG) cargoes in East Asia increased 14 cents to a weekly average of $12.43/MMBtu. Natural gas futures for delivery at the Title Transfer Facility (TTF) in the Netherlands increased 24 cents to a weekly average of $11.99/MMBtu. In the same week last year (week ending June 12, 2024), the prices were $11.99/MMBtu in East Asia and $10.81/MMBtu at TTF.
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Supply and Demand

• Supply: According to data from S&P Global Commodity Insights, the average total supply of natural gas rose by 0.5% (0.5 Bcf/d) compared with the previous report week. Dry natural gas production grew by 0.3% (0.3 Bcf/d) to average 106.2 Bcf/d, and average net imports from Canada increased by 3.3% (0.2 Bcf/d) from last week.
• Demand: Total U.S. consumption of natural gas rose by 3.2% (2.2 Bcf/d) compared with the previous report week, according to data from S&P Global Commodity Insights. Natural gas consumed for power generation rose by 11.6% (4.1 Bcf/d) week over week, as warmer weather was observed across much of the Northeast, Southeast, Texas, and the West. Consumption in the industrial sector decreased by 1.8% (0.4 Bcf/d), and consumption in the residential and commercial sector declined by 13.5% (1.5 Bcf/d). Natural gas exports to Mexico increased 0.3% (less than 0.1 Bcf/d). Natural gas deliveries to U.S. LNG export facilities (LNG pipeline receipts) averaged 14.4 Bcf/d, essentially unchanged from last week.

Liquefied Natural Gas (LNG)

• Pipeline receipts: Average natural gas deliveries to U.S. LNG export terminals stood at 14.4 Bcf/d this week, essentially unchanged from last week, according to data from S&P Global Commodity Insights. Natural gas deliveries to terminals in South Louisiana decreased 2.4% (0.2 Bcf/d) to 8.6 Bcf/d, and natural gas deliveries to terminals in South Texas increased 3.1% (0.1 Bcf/d), averaging 4.6 Bcf/d. Natural gas deliveries to terminals outside the Gulf Coast remained essentially unchanged at 1.2 Bcf/d this week.
• Vessels departing U.S. ports: Twenty-eight LNG vessels with a combined LNG-carrying capacity of 105 billion cubic feet departed the United States between June 5 and June 11, according to shipping data provided by Bloomberg Finance, L.P.: six from Sabine Pass, five each from Corpus Christi and Freeport, four from Plaquemines, three each from Cameron and Calcasieu Pass, and one each from Cove Point and Elba Island.

Rig Count

• According to Baker Hughes, for the week ending Tuesday, June 3, the natural gas rig count increased by 5 rigs to 114 rigs. The Eagle Ford and Haynesville each added two rigs, and one rig was added among unidentified producing regions. The number of oil-directed rigs fell by 9 rigs to 442 rigs. The Cana Woodford added two rigs. The Eagle Ford dropped five rigs, the Permian dropped three rigs, the Granite Wash dropped one rig, and two rigs were dropped among unidentified producing regions. The total rig count, which includes 3 miscellaneous rigs, now stands at 559 rigs, 35 fewer rigs than last year at this time.
• Note: Baker Hughes updated its North American report to reflect corrected oil and natural gas classifications in the Marcellus and Utica basins, effective April 4, 2025. This update reclassified approximately 8 to 10 land rigs. Total reported rig counts for all historical periods remain unchanged.

Storage

• Net injections into storage totaled 109 Bcf for the week ending June 6, compared with the five-year (2020–24) average net injections of 87 Bcf and last year's net injections of 77 Bcf during the same week. This weekly injection marks the seventh in a row above 100 Bcf, the longest streak since 2014. Working natural gas stocks totaled 2,707 Bcf, which is 139 Bcf (5%) more than the five-year average and 256 Bcf (9%) lower than last year at this time.
• According to The Desk survey of natural gas analysts, estimates of the weekly net change to working natural gas stocks ranged from net injections of 96 Bcf to 117 Bcf, with a median estimate of 106 Bcf.
• The average rate of injections into storage is 29% higher than the five-year average so far in the refill season (April through October). If the rate of injections into storage matched the five-year average of 8.1 Bcf/d for the remainder of the refill season, the total inventory would be 3,892 Bcf on October 31, which is 139 Bcf higher than the five-year average of 3,753 Bcf for that time of year.

See also:

• Natural Gas Analysis Reports
• Short-Term Energy Outlook