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 9 cents from $3.45 per million British thermal units (MMBtu) last Wednesday to $3.36/MMBtu yesterday.
• Henry Hub futures price: The November 2025 NYMEX contract expired yesterday at $3.376/MMBtu, down 7 cents from last Wednesday. The December 2025 NYMEX contract price decreased to $3.815/MMBtu, down 25 cents from last Wednesday to yesterday. The price of the 12-month strip averaging December 2025 through November 2026 futures contracts declined 13 cents to $3.840/MMBtu.
• Select regional spot prices: Natural gas spot prices rose at most locations this report week (Wednesday, October 22 to Wednesday, October 29). Price changes ranged from a decrease of $1.15 at the Waha Hub to an increase of $1.40 at Northwest Sumas.
• Prices rose across the West this week. The price at Northwest Sumas on the Canada-Washington border, the main pricing point for natural gas in the Pacific Northwest, rose $1.40 from $1.59/MMBtu last Wednesday to $2.99/MMBtu yesterday. Average temperatures in the Seattle City Area fell 1°F this report week to 52°F, leading to 89 heating degree days (HDDs), 9 HDDs more than last week and 12 HDDs below normal. The price at PG&E Citygate in Northern California rose 20 cents, up from $3.59/MMBtu last Wednesday to $3.79/MMBtu yesterday. The PG&E Citygate price was the highest among major pricing hubs nationwide this report week. Temperatures in the Sacramento Area fell 2°F this report week to 61°F, leading to 26 HDDs, 10 HDDs more than last week. The price at SoCal Citygate in Southern California increased 45 cents from $3.20/MMBtu last Wednesday to $3.65/MMBtu yesterday. In California, residential sector natural gas consumption rose 6% (0.1 billion cubic feet per day [Bcf/d]) from last week, according to LSEG Data.

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

• International futures prices: International natural gas futures price changes were mixed 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 4 cents to a weekly average of $11.19/MMBtu. Natural gas futures for delivery at the Title Transfer Facility (TTF) in the Netherlands decreased 6 cents to a weekly average of $10.86/MMBtu. In the same week last year (week ending October 30, 2024), the prices were $13.70/MMBtu in East Asia and $13.45/MMBtu at TTF.
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Liquefied Natural Gas (LNG)

• Vessels departing U.S. ports: Thirty-four LNG vessels with a combined LNG-carrying capacity of 129 billion cubic feet (Bcf) departed the United States between October 23 and October 29, according to shipping data provided by Bloomberg Finance, L.P.:
  • Nine tankers from Sabine Pass
  • Seven from Plaquemines
  • Five from Corpus Christi
  • Four from Freeport
  • Three each from Cameron and Calcasieu Pass
  • Two from Cove Point
  • One from Elba Island

Rig Count

• According to Baker Hughes, for the week ending Tuesday, October 21, the natural gas rig count remained unchanged from a week ago at 121 rigs. The number of oil-directed rigs increased by 2 rigs from a week ago to 420 rigs. The Eagle Ford and the Permian each dropped one rig. Four rigs were added among unidentified producing regions. The total rig count, which includes 9 miscellaneous rigs, now stands at 550 rigs, 35 fewer than at this time last year.

Storage

• Net injections into storage totaled 74 Bcf for the week ending October 24, compared with the five-year (2020–24) average net injections of 67 Bcf and last year's net injections of 79 Bcf during the same week. Working natural gas stocks totaled 3,882 Bcf, which is 171 Bcf (5%) more than the five-year average and 29 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 6.0 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.

See also:

• Natural Gas Analysis Reports
• Short-Term Energy Outlook