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 53 cents from $3.33 per million British thermal units (MMBtu) last Wednesday to $2.80/MMBtu yesterday.
• Henry Hub futures price: The price of the November 2025 NYMEX contract decreased 32 cents, from $3.333/MMBtu last Wednesday to $3.016/MMBtu yesterday. The price of the 12-month strip averaging November 2025 through October 2026 futures contracts declined 22 cents to $3.681/MMBtu.
• Select regional spot prices: Natural gas spot prices fell at most locations this report week (Wednesday, October 8, to Wednesday, October 15). Price changes ranged from a decrease of 72 cents at SoCal Border-Ehrenberg to an increase of $2.68 at the Waha Hub.
• Prices were mostly lower in the Southeast and Texas this week. The price at Florida Gas Zone 3, along the Florida Gas Transmission system that delivers natural gas into Florida, decreased 67 cents from $3.86/MMBtu last Wednesday to $3.19/MMBtu yesterday. This price was the highest among major hubs located outside of California. Average temperatures in the Southeast region fell 4°F this report week to 71°F, leading to 178 cooling degree days (CDDs), 101 fewer CDDs than last week and 13 CDDs below normal. Natural gas consumption in Florida's electric power sector fell 19% (0.8 billion cubic feet per day [Bcf/d]) this week, according to LSEG Data. The price at the Houston Ship Channel fell 62 cents from $2.97/MMBtu last Wednesday to $2.35/MMBtu yesterday. The price at the Waha Hub, which is located near Permian Basin production activities, rose from -$1.66/MMBtu last Wednesday to $1.02/MMBtu yesterday. Maintenance activities on the Permian Highway Pipeline, which carries natural gas from the Permian Basin in West Texas toward the Agua Dulce hub near Corpus Christi, concluded yesterday. The maintenance began October 3 and reduced mainline transportation capacity by 45%. Temperatures in Texas fell 2°F to 76°F this report week, leading to 224 CDDs, 35 CDDs fewer than last week.

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

• International futures prices: International natural gas futures prices decreased this report week. According to Bloomberg Finance, L.P., weekly average front-month futures prices for liquefied natural gas (LNG) cargoes in East Asia decreased 4 cents to a weekly average of $11.05/MMBtu. Natural gas futures for delivery at the Title Transfer Facility (TTF) in the Netherlands decreased 24 cents to a weekly average of $10.86/MMBtu. In the same week last year (week ending October 16, 2024), the prices were $13.17/MMBtu in East Asia and $12.79/MMBtu at TTF.
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Liquefied Natural Gas (LNG)

• Vessels departing U.S. ports: Thirty-two LNG vessels with a combined LNG-carrying capacity of 122 billion cubic feet (Bcf) departed the United States between October 9 and October 15, according to shipping data provided by Bloomberg Finance, L.P.:
  • Eight tankers from Sabine Pass
  • Six from Plaquemines
  • Five each from Corpus Christi and Freeport
  • Four from Cameron
  • Three from Calcasieu Pass
  • One from Elba Island

Rig Count

• According to Baker Hughes, for the week ending Tuesday, October 7, the natural gas rig count increased by 2 rigs from a week ago to 120 rigs. The Haynesville added one rig, and one rig was added among unidentified producing regions. The number of oil-directed rigs dropped by 4 rigs to 418 rigs. The DJ-Niobrara, Permian, and Eagle Ford each dropped one rig, the Granite Wash dropped two rigs, and four rigs were dropped in unidentified producing regions. The Ardmore Woodford added two rigs, and the Cana Woodford, the Haynesville, and the Williston each added one rig. The total rig count, which includes 9 miscellaneous rigs, now stands at 547 rigs, 39 fewer than at this time last year.

Storage

• Net injections into storage totaled 80 Bcf for the week ending October 10, compared with the five-year (2020–24) average net injections of 83 Bcf and last year's net injections of 77 Bcf during the same week. Working natural gas stocks totaled 3,721 Bcf, which is 154 Bcf (4%) more than the five-year average and 26 Bcf (1%) more than last year at this time.
• The average rate of injections into storage is 13% 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 8.9 Bcf/d for the remainder of the refill season, the total inventory would be 3,907 Bcf on October 31, which is 154 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