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 31 cents from $2.89 per million British thermal units (MMBtu) last Wednesday to $3.20/MMBtu yesterday.
• Henry Hub futures price: The price of the October 2025 NYMEX contract increased 7 cents from $3.029/MMBtu last Wednesday to $3.100/MMBtu yesterday. The price of the 12-month strip averaging October 2025 through September 2026 futures contracts climbed 6 cents to $3.754/MMBtu.
• Select regional spot prices: Natural gas spot prices rose at most locations this report week (Wednesday, September 10, to Wednesday, September 17). Price changes ranged from a $1.16 decrease at Waha to a 73-cent increase at SoCal Citygate, with warmer-than-average temperatures across much of the country.
• At the Chicago Citygate, the price increased 30 cents from $2.74/MMBtu last Wednesday to $3.04/MMBtu yesterday. Temperatures in the Chicago Area averaged 72°F this report week, 5°F above normal, and 11°F more than last week, which resulted in 50 cooling degree days (CDDs), 44 more CDDs than last week. Natural gas consumption in the Midcontinent electric power sector increased by 25% (1.3 Bcf/d), according to data from S&P Global Commodity Insights, as a result of higher-than-average temperatures midweek that increased air-conditioning demand. The Clinton Power Station, a nuclear generator that serves the region, is currently experiencing a full outage, increasing reliance on natural gas-fired generation.

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 9 cents to a weekly average of $11.40/MMBtu. Natural gas futures for delivery at the Title Transfer Facility (TTF) in the Netherlands decreased 4 cents to a weekly average of $11.19/MMBtu. In the same week last year (week ending September 18, 2024), the prices were $13.40/MMBtu in East Asia and $11.44/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 fell by 0.5% (0.5 Bcf/d) compared with the previous report week. Dry natural gas production decreased by 0.2% (0.2 Bcf/d) to average 107.0 Bcf/d, and average net imports from Canada decreased by 5.8% (0.3 Bcf/d) from last week.
• Demand: Total U.S. consumption of natural gas fell by 0.7% (0.5 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 3.4% (1.3 Bcf/d) week over week. Consumption in the industrial sector decreased by 1.9% (0.4 Bcf/d) week over week, and consumption in the residential and commercial sector declined by 12.9% (1.3 Bcf/d). Natural gas exports to Mexico decreased 9.6% (0.7 Bcf/d). Natural gas deliveries to U.S. LNG export facilities (LNG pipeline receipts) averaged 16.2 Bcf/d, or 0.1 Bcf/d higher than last week.

Liquefied Natural Gas (LNG)

• Pipeline receipts: Average natural gas deliveries to the U.S. LNG export terminals increased 0.1 Bcf/d from last week to 16.2 Bcf/d, according to data from S&P Global Commodity Insights. Natural gas deliveries to terminals in South Louisiana decreased 1.4% (0.2 Bcf/d) to 10.9 Bcf/d, while natural gas deliveries to terminals in South Texas increased 8.8% (0.3 Bcf/d) to 4.2 Bcf/d. Natural gas deliveries to terminals outside the Gulf Coast decreased 6.4% (0.1 Bcf/d) to 1.0 Bcf/d this week.
• Vessels departing U.S. ports: Twenty-four LNG vessels with a combined LNG-carrying capacity of 92 Bcf departed the United States between September 11 and September 17, according to shipping data provided by Bloomberg Finance, L.P.:
  • Seven tankers from Sabine Pass
  • Five from Plaquemines
  • Four from Corpus Christi
  • Three each from Cameron and Freeport
  • Two from Calcasieu Pass
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  Rig Count

  • According to Baker Hughes, for the week ending Tuesday, September 9, the natural gas rig count remained unchanged at 118 rigs. The Eagle Ford dropped one rig, and the Utica added one rig. The number of oil-directed rigs increased by 2 rigs to 416 rigs. The Eagle Ford added four rigs, and the Cana Woodford added one rig. Three rigs were dropped among unidentified producing regions. The total rig count, which includes 5 miscellaneous rigs, now stands at 539 rigs, 51 fewer than at this time last year.
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  Storage

  • Net injections into storage totaled 90 Bcf for the week ending September 12, compared with the five-year (2020–24) average net injections of 74 Bcf and last year's net injections of 56 Bcf during the same week. Working natural gas stocks totaled 3,433 Bcf, which is 204 Bcf (6%) more than the five-year average and 4 Bcf (less than 1%) 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 70 Bcf to 88 Bcf, with a median estimate of 81 Bcf.
  • The average rate of injections into storage is 19% 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 10.7 Bcf/d for the remainder of the refill season, the total inventory would be 3,957 Bcf on October 31, which is 204 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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