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 rose 7 cents from $2.81 per million British thermal units (MMBtu) last Wednesday to $2.88/MMBtu yesterday.
• Henry Hub futures price: The September 2025 NYMEX contract expired yesterday at $2.867/MMBtu, up 12 cents from last Wednesday. The October 2025 NYMEX contract price increased to $2.886/MMBtu, up 4 cents from last Wednesday to yesterday. The price of the 12-month strip averaging October 2025 through September 2026 futures contracts climbed 3 cents to $3.622/MMBtu.
• Select regional spot prices: Natural gas spot prices fell at most locations this report week (Wednesday, August 20, to Wednesday, August 27). Price changes ranged from a $1.11 decrease at SoCal Border-Ehrenberg to an increase of 7 cents at Henry Hub.
• Prices fell in the Northeast this report week. At the Algonquin Citygate, which serves Boston-area consumers, the price decreased 71 cents from $2.21/MMBtu last Wednesday to $1.50/MMBtu yesterday. At the Transco Zone 6 NY trading point for New York City, the price decreased 64 cents from $2.03/MMBtu to $1.39/MMBtu yesterday. Total natural gas consumption decreased by 11% (1.9 billion cubic feet per day [Bcf/d]) this week in the Northeast, driven by a 17% (2.1 Bcf/d) decrease in consumption in the electric power sector, according to data from S&P Global Commodity Insights. Cooler temperatures in the Northeast resulted in 170 fewer cooling degree days (CDDs) this week, 96 fewer than normal for this time of year, in addition to 18 heating degree days that are not typical for this time of year. Temperatures in the New York-Central Park Area averaged 72°F this report week, resulting in 48 CDDs, 28 fewer than last week and 25 fewer than normal for this time of year.

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 12 cents to a weekly average of $11.47/MMBtu. Natural gas futures for delivery at the Title Transfer Facility (TTF) in the Netherlands increased 60 cents to a weekly average of $11.37/MMBtu. In the same week last year (week ending August 28, 2024), the prices were $13.90/MMBtu in East Asia and $12.32/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 remained relatively the same as in the previous report week, averaging 112.7 Bcf/d. Total U.S. Lower 48 dry natural gas production grew by 0.3% (0.3 Bcf/d) to average 107.8 Bcf/d, the highest-ever weekly average production observed for the United States. Average net imports from Canada decreased by 5.3% (0.3 Bcf/d) from last week.
• Demand: Total U.S. consumption of natural gas fell by 5.8% (4.4 Bcf/d) compared with the previous report week, according to data from S&P Global Commodity Insights, as temperatures were cooler across the East and Midwest. Natural gas consumed for power generation declined by 10.4% (4.7 Bcf/d) week over week. Consumption in the industrial sector increased by 1.4% (0.3 Bcf/d), and consumption in the residential and commercial sector increased by 0.2% (less than 0.1 Bcf/d). Natural gas exports to Mexico decreased 1.3% (0.1 Bcf/d). Natural gas deliveries to U.S. LNG export facilities (LNG pipeline receipts) averaged 16.4 Bcf/d, or 0.9 Bcf/d higher than last week.

Liquefied Natural Gas (LNG)

• Pipeline receipts: Average natural gas deliveries to U.S. LNG export terminals rose 0.9 Bcf/d from last week to 16.4 Bcf/d, according to data from S&P Global Commodity Insights. Natural gas deliveries to terminals in South Louisiana rose 7.6% (0.8 Bcf/d); natural gas deliveries to terminals in South Texas rose by 5.3% (0.2 Bcf/d). Natural gas deliveries to terminals outside the Gulf Coast remained essentially unchanged at 1.1 Bcf/d this week.
• Vessels departing U.S. ports: Twenty-eight LNG vessels with a combined LNG-carrying capacity of 106 Bcf departed the United States between August 21 and August 27, according to shipping data provided by Bloomberg Finance, L.P.:
  • Eight tankers from Sabine Pass
  • Four each from Corpus Christi, Freeport, and Plaquemines
  • Three each from Cameron and Calcasieu Pass
  • Two from Cove Point
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  Rig Count

  • According to Baker Hughes, for the week ending Tuesday, August 19, the natural gas rig count remained unchanged from a week ago at 122 rigs. The number of oil-directed rigs dropped by 1 rig to 411 rigs. The Williston dropped one rig. The total rig count, which includes 5 miscellaneous rigs, now stands at 538 rigs, 47 fewer rigs than at this time last year.
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  Storage

  • Net injections into storage totaled 18 Bcf for the week ending August 22, compared with the five-year (2020–24) average net injections of 38 Bcf and last year's net injections of 35 Bcf during the same week. Working natural gas stocks totaled 3,217 Bcf, which is 154 Bcf (5%) more than the five-year average and 112 Bcf (3%) 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 19 Bcf to 38 Bcf, with a median estimate of 25 Bcf.
  • The average rate of injections into storage is 18% 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 9.9 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.
  More storage data and analysis can be found on the Natural Gas Storage Dashboard and the Weekly Natural Gas Storage Report.
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  See also:

  • Natural Gas Analysis Reports
  • Short-Term Energy Outlook
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