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 4 cents from $2.98 per million British thermal units (MMBtu) last Wednesday to $3.02/MMBtu yesterday.
• Henry Hub futures price: The price of the September 2025 NYMEX contract increased 3 cents, from $3.045/MMBtu last Wednesday to $3.077/MMBtu yesterday. The price of the 12-month strip averaging September 2025 through August 2026 futures contracts increased 1 cent to $3.760/MMBtu.
• Select regional spot prices: Natural gas prices rose slightly at most major pricing locations this report week (Wednesday, July 30, to Wednesday, August 6). Prices ranged from a 16-cent decrease at Florida Gas Zone 3 to a $1.33/MMBtu increase at Northwest Sumas.
• Prices in the Southeast decreased this report week. The price at Florida Gas Zone 3, along the Florida Gas Transmission system that delivers natural gas into Florida, decreased 16 cents from $3.66/MMBtu last Wednesday to $3.50/MMBtu yesterday. Following last week’s above-average temperatures, mercury levels and demand gradually subsided in the region. Temperatures in the Orlando Area averaged 85°F, leading to 144 cooling degree days (CDDs), 3 CDDs fewer than last week. The price at the Houston Ship Channel decreased 7 cents from $2.80/MMBtu last Wednesday to $2.73/MMBtu yesterday. Temperatures in the broader Southeast region averaged 81°F, or 4°F cooler than last week, leading to 444 CDDs, the same as normal for this time of year but 108 fewer CDDs than last week. Consumption of natural gas in the electric power sector fell 12% (1.7 Bcf/d) across the Southeast region, led by a 17% (0.6 Bcf/d) decrease in consumption in the Southern Corridor, according to data from S&P Global Insights.

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 5 cents to a weekly average of $11.99/MMBtu. Natural gas futures for delivery at the Title Transfer Facility (TTF) in the Netherlands increased 28 cents to a weekly average of $11.61/MMBtu. In the same week last year (week ending August 7, 2024), the prices were $12.50/MMBtu in East Asia and $11.78/MMBtu at TTF.
Top

Supply and Demand

• Supply: According to data from S&P Global Commodity Insights, the average total supply of natural gas fell by 1.1% (1.2 Bcf/d) compared with the previous report week. Dry natural gas production decreased by 0.1% (0.1 Bcf/d) to average 106.7 Bcf/d, and average net imports from Canada decreased by 17.5% (1.1 Bcf/d) from last week.
• Demand: Total U.S. consumption of natural gas fell by 9.9% (7.9 Bcf/d) compared with the previous report week, according to data from S&P Global Commodity Insights. Natural gas consumed for power generation declined by 15.7% (7.6 Bcf/d) week over week as cooler temperatures were observed across most of the United States. Consumption in the residential and commercial sector declined by 5.2% (0.5 Bcf/d) and increased in the industrial sector by 0.8% (0.2 Bcf/d). Natural gas exports to Mexico increased 3.9% (0.3 Bcf/d). Natural gas deliveries to U.S. LNG export facilities (LNG pipeline receipts) averaged 16.3 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 increased 0.9 Bcf/d from last week to 16.3 Bcf/d, according to data from S&P Global Commodity Insights. Natural gas deliveries to terminals in South Louisiana increased 4.7% (0.5 Bcf/d) to 11.1 Bcf/d, while natural gas deliveries to terminals in South Texas increased by 12.5% (0.5 Bcf/d) to 4.1 Bcf/d. Natural gas deliveries to terminals outside of the Gulf Coast decreased 5% (0.1 Bcf/d) to 1.1 Bcf/d this week.
• Vessels departing U.S. ports: Thirty LNG vessels with a combined LNG-carrying capacity of 113 Bcf departed the United States between July 31 and August 7, according to shipping data provided by Bloomberg Finance, L.P.:
  • Eight tankers from Sabine Pass
  • Five each from Corpus Christi and Freeport
  • Four from Plaquemines
  • Three each from Cameron and Calcasieu Pass
  • Two from Cove Point
  Top

  Rig Count

  • According to Baker Hughes, for the week ending Tuesday, July 29, the natural gas rig count increased by 2 rigs from a week ago to 124 rigs. The Permian and the Eagle Ford each added one rig, one rig was added among unidentified producing regions, and the Haynesville dropped one rig. The number of oil-directed rigs fell by 5 rigs to 410 rigs, for the 14th straight week of declines. The Granite Wash added two rigs. The Cana Woodford dropped four rigs, the Permian dropped two rigs, and the Eagle Ford dropped one rig. The total rig count, which includes 6 miscellaneous rigs, now stands at 540 rigs, 46 fewer rigs than at this time last year.
  Top

  Storage

  • Net injections into storage totaled 7 Bcf for the week ending August 1, compared with the five-year (2020–24) average net injections of 29 Bcf and last year's net injections of 21 Bcf during the same week. Working natural gas stocks totaled 3,130 Bcf, which is 173 Bcf (6%) more than the five-year average and 137 Bcf (4%) 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 5 Bcf to 29 Bcf, with a median estimate of 13 Bcf.
  • The average rate of injections into storage is 22% 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 8.7 Bcf/d for the remainder of the refill season, the total inventory would be 3,926 Bcf on October 31, which is 173 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.
  Top

  See also:

  • Natural Gas Analysis Reports
  • Short-Term Energy Outlook
  Top