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 10 cents from $3.02 per million British thermal units (MMBtu) last Wednesday to $2.92/MMBtu yesterday.
• Henry Hub futures price: The price of the September 2025 NYMEX contract decreased 25 cents, from $3.077/MMBtu last Wednesday to $2.828/MMBtu yesterday. The price of the 12-month strip averaging September 2025 through August 2026 futures contracts declined 19 cents to $3.575/MMBtu.
• Select regional spot prices: Natural gas spot prices fell at most locations this report week (Wednesday, August 6 to Wednesday, August 13) with mostly nominal changes from the previous week. Price changes ranged from a decrease of $0.96/MMBtu at Northwest Sumas to an increase of $0.01/MMBtu at Algonquin Citygate.
• Prices rose slightly in the Northeast this week. At Algonquin Citygate, which serves Boston-area consumers, the price rose $0.01 from $2.95/MMBtu last Wednesday to $2.96/MMBtu yesterday, reaching a weekly high of $4.62/MMBtu on Monday, August 11. Average temperatures in the Boston Area rose above average by mid-week, reaching a weekly high of 82°F on August 12. Throughout the week, Algonquin Gas Transmission issued capacity constraint orders because pipeline inspections affected gas capacity system wide. Operational flow orders were effective on August 9 and August 11, requiring shippers to closely balance scheduled nominations with actual usage. At the Transco Zone 6 NY, the key trading point for New York City, the price decreased 1 cent from $2.74/MMBtu last Wednesday to $2.73/MMBtu yesterday, reaching a weekly high of $3.00/MMBtu on Monday, August 11. The Transco pipeline, owned and operated by the Williams Companies, issued an operational flow order effective August 9 to ensure its customers matched actual natural gas deliveries with scheduled nominations. Average temperatures in the New York-Central Park Area had a similar pattern to those in Boston, reaching this week’s high of 81°F on August 12. Average temperatures in the Northeast were 2°F warmer during this report week, which led to 50 more cooling degree days (CDDs) in the region compared with the previous week. Total natural gas consumption in the Northeast region increased by 14% (2.2 billion cubic feet per day [Bcf/d]), driven by a 19% (2.0 Bcf/d) rise in electric-power sector consumption due to increased air-conditioning demand, according to S&P Global Commodity Insights.

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 6 cents to a weekly average of $11.93/MMBtu. Natural gas futures for delivery at the Title Transfer Facility (TTF) in the Netherlands decreased 43 cents to a weekly average of $11.18/MMBtu. In the same week last year (week ending August 14, 2024), the prices were $12.62/MMBtu in East Asia and $12.76/MMBtu at TTF.
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Supply and Demand

• Supply: According to data from S&P Global Commodity Insights, the average total natural gas supply rose by 0.2% (0.2 Bcf/d) compared with the previous report week. Dry natural gas production remained unchanged at 106.7 Bcf/d, and average net imports from Canada increased by 5.0% (0.3 Bcf/d) from last week.
• Demand: Total U.S. natural gas consumption rose by 6.3% (4.6 Bcf/d) compared with the previous report week, according to data from S&P Global Commodity Insights. Natural gas consumed for power generation rose by 10.4% (4.3 Bcf/d) week over week. Consumption in the industrial sector decreased by 1.0% (0.2 Bcf/d) while consumption in the residential and commercial sector increased by 5.3% (0.5 Bcf/d). Natural gas exports to Mexico increased 2.0% (0.1 Bcf/d). Natural gas deliveries to U.S. LNG export facilities (LNG pipeline receipts) averaged 16.8 Bcf/d, or 0.5 Bcf/d higher than last week.

Liquefied Natural Gas (LNG)

• Pipeline receipts: Average natural gas deliveries to U.S. LNG export terminals increased 0.5 Bcf/d from last week to 16.8 Bcf/d, according to data from S&P Global Commodity Insights. Natural gas deliveries to terminals in South Louisiana increased by 1.9% (0.2 Bcf/d) to 11.3 Bcf/d, while natural gas deliveries to terminals in South Texas increased by 6.3% (0.3 Bcf/d) to 4.5 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-nine LNG vessels with a combined LNG-carrying capacity of 110 Bcf departed the United States between August 8 and August 13, according to shipping data provided by Bloomberg Finance, L.P.:
  • Eight tankers from Sabine Pass
  • Five from Plaquemines
  • Four each from Cameron, Corpus Christi, and Freeport
  • Three from Calcasieu Pass
  • One from Elba Island
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  Rig Count

  • According to Baker Hughes, for the week ending Tuesday, August 5, the natural gas rig count decreased by 1 rig from a week ago to 123 rigs. The Haynesville added one rig. Two rigs were dropped among unidentified producing regions. The number of oil-directed rigs increased for the first time since late April by 1 rig to 411 rigs. The Cana Woodford and Granite Wash each added two rigs, and one rig was added among unidentified producing regions. The Permian dropped three rigs, and the Eagle Ford dropped one rig. The total rig count, which includes 5 miscellaneous rigs, now stands at 539 rigs, 49 fewer than at this time last year.
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  Storage

  • Net injections into storage totaled 56 Bcf for the week ending August 8, compared with the five-year (2020–24) average net injections of 33 Bcf and last year's net withdrawals of 2 Bcf during the same week. Working natural gas stocks totaled 3,186 Bcf, which is 196 Bcf (7%) more than the five-year average and 79 Bcf (2%) 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 46 Bcf to 66 Bcf, with a median estimate of 56 Bcf.
  • The average rate of injections into storage is 23% 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 9.1 Bcf/d for the remainder of the refill season, the total inventory would be 3,949 Bcf on October 31, which is 196 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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