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Natural Gas Weekly Update

for week ending November 19, 2025   |  Release date:  November 20, 2025   |  Next release:  December 4, 2025   |   Previous weeks

JUMP TO: Prices | Liquefied Natural Gas (LNG) | Rig Count | Other Market Drivers | Storage

Notice of holiday release schedule for Natural Gas Weekly Update (NGWU):

There will be no NGWU released on Thursday, November 27 due to the federal holiday. The next NGWU will be released on December 4, 2025.

Today in Energy

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

Market Highlights:

(For the week ending Wednesday, November 19, 2025)

Prices

  • Henry Hub spot price: The Henry Hub spot price rose 33 cents from $3.60 per million British thermal units (MMBtu) last Wednesday to $3.93/MMBtu yesterday.
  • Henry Hub futures price: The price of the December 2025 NYMEX contract increased 2 cents, from $4.533/MMBtu last Wednesday to $4.550/MMBtu yesterday. The average price of the 12-month futures strip from December 2025 through November 2026 declined 2 cents to $4.175/MMBtu.
  • Select regional spot prices: Natural gas spot prices rose at most locations this report week (Wednesday, November 12 to Wednesday, November 19). Price changes ranged from a decrease of 77 cents at the Waha Hub to an increase of 81 cents at Northwest Sumas.
    • Natural gas prices on the West Coast increased this week. At Northwest Sumas, the primary pricing point for natural gas in the Pacific Northwest, the price rose by 81 cents, from $1.67/MMBtu last Wednesday to $2.48/MMBtu yesterday. The average temperature in the Seattle City area fell 1°F this report week, leading to 95 heating degree days (HDDs), up from 91 HDDs the previous week. Daily average temperatures trended lower from an intraweek high of 55°F last Thursday and Saturday to an intraweek low of 47°F on Tuesday. Spot natural gas prices rose at California’s Citygate trading points. The price at PG&E Citygate in Northern California rose 33 cents, up from $3.82/MMBtu last Wednesday to $4.15/MMBtu yesterday. The price at SoCal Citygate in Southern California increased 13 cents from $4.06/MMBtu last Wednesday to $4.19/MMBtu yesterday. Average temperatures in California fell 8°F this report week to 56°F, leading to 64 HDDs, 50 HDDs more than last report week. Natural gas consumption in California rose 19% (0.8 billion cubic feet per day) this report week, according to LSEG Data.

    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 21 cents to a weekly average of $11.35/MMBtu. Natural gas futures for delivery at the Title Transfer Facility (TTF) in the Netherlands increased 2 cents to a weekly average of $10.59/MMBtu. In the same week last year (week ending November 20, 2024), the prices were $14.17/MMBtu in East Asia and $14.38/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 November 13 and November 19, according to shipping data provided by Bloomberg Finance, L.P.:
    • Eight tankers from Sabine Pass
    • Six each from Plaquemines and Corpus Christi
    • Five from Freeport
    • Four from Cameron
    • Three from Calcasieu Pass
    • Two from Cove Point
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Rig Count

  • According to Baker Hughes, for the week ending Tuesday, November 11, the natural gas rig count decreased by 3 rigs from a week ago to 125 rigs. The Arkoma Woodford dropped two rigs, and the Permian dropped one rig. The number of oil-directed rigs increased by 3 rigs from a week ago to 417 rigs. The Cana Woodford shed three rigs, while the Eagle Ford, Granite Wash, and the Williston each shed one rig. The Permian added three rigs, the Arkoma Woodford added two rigs, and four rigs were added among unidentified producing regions. The total rig count, which includes 7 miscellaneous rigs, now stands at 549 rigs, 35 fewer than at this time last year.
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Storage

Net withdrawals from storage totaled 14 Bcf for the week ending November 14, compared with the five-year (2020–24) average net injections of 12 Bcf and last year's net injections of 3 Bcf during the same week. Working natural gas stocks totaled 3,946 Bcf, which is 146 Bcf (4%) more than the five-year average and 23 Bcf (1%) lower than last year at this time. This net withdrawal was the first for the Lower 48 states in the 2025–26 winter heating season.

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:

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Natural gas spot prices
Spot Prices ($/MMBtu)
Thu,
13-Nov
Fri,
14-Nov
Mon,
17-Nov
Tue,
18-Nov
Wed,
19-Nov
Henry Hub
3.58
3.49
3.70
3.72
3.93
New York
3.25
3.18
3.60
3.55
3.75
Chicago
3.18
3.14
3.50
3.46
3.68
Cal. Comp. Avg.*
3.29
3.32
3.77
3.45
3.77
*Avg. of NGI's reported prices for: Malin, PG&E Citygate, and Southern California Border Avg.
Data source: NGI's Daily Gas Price Index
Natural gas futures prices


Weekly natural gas rig count and average Henry Hub
Rigs
Tue, November 11, 2025
Change from
 
last week
last year
Oil rigs
417
0.7%
-12.8%
Natural gas rigs
125
-2.3%
23.8%
Note: Excludes any miscellaneous rigs
Rig numbers by type
Tue, November 11, 2025
Change from
 
last week
last year
Vertical
11
0.0%
-31.3%
Horizontal
476
-0.4%
-8.5%
Directional
62
5.1%
29.2%
Data source: Baker Hughes Company


Working gas in underground storage
Stocks
billion cubic feet (Bcf)
Region
2025-11-14
2025-11-07
change
East
905
914
-9
Midwest
1,112
1,117
-5
Mountain
292
290
2
Pacific
322
321
1
South Central
1,316 
1,318
-2
Total
3,946 
3,960
-14

Data source: U.S. Energy Information Administration Form EIA-912, Weekly Underground Natural Gas Storage Report
Note: Totals may not equal sum of components because of independent rounding.
Working gas in underground storage
Historical comparisons
Year ago
11/14/24
5-year average
2020-2024
Region
Stocks (Bcf)
% change
Stocks (Bcf)
% change
East
933
-3.0
916
-1.2
Midwest
1,140
-2.5
1,109
0.3
Mountain
293
-0.3
241
21.2
Pacific
313
2.9
285
13.0
South Central
1,290
2.0
1,249
5.4
Total
3,969
-0.6
3,800
3.8
Data source: U.S. Energy Information Administration Form EIA-912, Weekly Underground Natural Gas Storage Report
Note: Totals may not equal sum of components because of independent rounding.


Temperature – heating & cooling degree days (week ending Nov 13)
 
HDDs
CDDs
Region
Current total
Deviation from normal
Deviation from last year
Current total
Deviation from normal
Deviation from last year
New England
155
4
53
0
0
0
Middle Atlantic
150
8
62
0
0
-1
E N Central
186
25
77
0
0
0
W N Central
173
-4
39
0
0
0
South Atlantic
106
13
73
10
-4
-26
E S Central
116
21
89
1
-1
-16
W S Central
59
-2
35
13
4
-14
Mountain
108
-51
-70
6
5
6
Pacific
27
-49
-47
2
1
2
United States
121
-3
34
4
0
-7
Data source: National Oceanic and Atmospheric Administration
Note: HDDs=heating degree days; CDDs=cooling degree days

   Average temperature (°F)


   7-day mean ending Nov 13, 2025

Mean Temperature (F) 7-Day Mean ending

        Data source: National Oceanic and Atmospheric Administration

  Deviation between average and normal temperature (°F)


   7-day mean ending Nov 13, 2025

Mean Temperature Anomaly (F) 7-Day Mean ending Nov 13, 2025

        Data source: National Oceanic and Atmospheric Administration

 

Monthly U.S. dry shale natural gas production by formation is available in the
Short-Term Energy Outlook.