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 36 cents from $3.43 per million British thermal units (MMBtu) last Wednesday to $3.07/MMBtu yesterday.
• Henry Hub futures price: The price of the August 2025 NYMEX contract decreased 47 cents, from $3.551/MMBtu last Wednesday to $3.077/MMBtu yesterday. The price of the 12-month strip averaging August 2025 through July 2026 futures contracts declined 38 cents to $3.748/MMBtu.
• Select regional spot prices: Natural gas prices fell at all major pricing locations this report week (Wednesday July 16, to Wednesday, July 23). Prices ranged from a 7-cent decrease at Northwest Sumas to a $4.36 decrease at Algonquin Citygate.
• In the Southeast, at FGT Citygate, which delivers natural gas into Florida, the price fell 36 cents from $4.48/MMBtu last Wednesday to $4.12/MMBtu yesterday, but FGT Citygate remains one of the highest-price hubs in the country. Average temperatures in the Orlando Area rose in the middle of the report week and averaged 87°F over the weekend, 4°F above normal. The Southeast region had 49 more cooling degree days (CDDs) than the previous week and 59 more CDDs than normal. The National Weather Service issued a heat advisory in Florida on July 21, stating its expectation of a heat index up to 108°F. Total consumption of natural gas in the Atlantic Coast region increased 3.5% (0.3 billion cubic feet per day [Bcf/d]), according to data from S&P Global Commodity Insights, driven by a 4.8% (0.4 Bcf/d) increase in consumption in the electric power sector to meet air-conditioning demand.

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 94 cents to a weekly average of $12.03/MMBtu. Natural gas futures for delivery at the Title Transfer Facility (TTF) in the Netherlands decreased 55 cents to a weekly average of $11.44/MMBtu. In the same week last year (week ending July 24, 2024), the prices were $12.13/MMBtu in East Asia and $10.26/MMBtu at TTF.
Top

Supply and Demand

• Supply: According to data from S&P Global Commodity Insights, the average total supply of natural gas fell by 0.1% (0.2 Bcf/d) compared with the previous report week. Dry natural gas production grew by 0.2% (0.2 Bcf/d) to average 106.7 Bcf/d, and average net imports from Canada decreased by 5.7% (0.4 Bcf/d) from last week.
• Demand: Total U.S. consumption of natural gas fell by 2.1% (1.6 Bcf/d) compared with the previous report week, according to data from S&P Global Commodity Insights. Natural gas consumed for power generation declined by 3.8% (1.7 Bcf/d) week over week, as cooler weather was observed across the western and northern United States. Consumption in the industrial sector increased by 0.7% (0.2 Bcf/d), and consumption in the residential and commercial sector declined by 0.9% (0.1 Bcf/d). Natural gas exports to Mexico decreased 3.7% (0.2 Bcf/d). Natural gas deliveries to U.S. LNG export facilities (LNG pipeline receipts) averaged 16.1 Bcf/d, or 0.3 Bcf/d lower than last week.

Liquefied Natural Gas (LNG)

• Pipeline receipts: Average natural gas deliveries to U.S. LNG export terminals fell 2.1% (0.3 Bcf/d) to end at 16.1 Bcf/d this week, according to data from S&P Global Commodity Insights. Natural gas deliveries to terminals in South Louisiana increased 1.2% (0.1 Bcf/d) to 10.9 Bcf/d, and natural gas deliveries to terminals in South Texas decreased 8.1% (0.4 Bcf/d) averaging 4.2 Bcf/d. Natural gas deliveries to terminals outside the Gulf Coast decreased 8.8% (0.1 Bcf/d) to 1.1 Bcf/d this week.
• Vessels departing U.S. ports: Twenty-eight LNG vessels with a combined LNG-carrying capacity of 104 Bcf departed the United States between July 17 and July 23, according to shipping data provided by Bloomberg Finance, L.P.:
  • Seven tankers from Sabine Pass
  • Five each from Freeport and Plaquemines
  • Four from Corpus Christi
  • Three each from Calcasieu Pass and Cameron
  • One from Cove Point
  Top

  Rig Count

  • According to Baker Hughes, for the week ending Tuesday, July 15, the natural gas rig count increased by 9 rigs from a week ago to 117 rigs. The Haynesville added three rigs, the Barnett and Fayetteville each added one rig, and five rigs were added among unidentified producing regions, while the Eagle Ford dropped one rig. The number of oil-directed rigs fell by 2 rigs to 422 rigs, the 12th straight week of declines. The Eagle Ford added one rig, and one rig was added among unidentified producing regions. The Permian dropped two rigs, and the Barnett and Fayetteville each dropped one rig. The total rig count, which includes 5 miscellaneous rigs, now stands at 544 rigs, 42 fewer rigs than at this time last year.
  Top

  Storage

  • Net injections into storage totaled 23 Bcf for the week ending July 18, compared with the five-year (2020–24) average net injections of 30 Bcf and last year's net injections of 20 Bcf during the same week. Working natural gas stocks totaled 3,075 Bcf, which is 171 Bcf (6%) more than the five-year average and 153 Bcf (5%) 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 22 Bcf to 41 Bcf, with a median estimate of 28 Bcf.
  • The average rate of injections into storage is 22% 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 3,924 Bcf on October 31, which is 171 Bcf higher than the five-year average of 3,753 Bcf for that time of year.
  More storage data and analysis can be found on the Natural Gas Storage Dashboard and the Weekly Natural Gas Storage Report.
  Top

  See also:

  • Natural Gas Analysis Reports
  • Short-Term Energy Outlook
  Top