Nat Gas

Cheniere Energy raised its full-year 2026 adjusted core profit forecast to $8.75-9.25 billion from $7.90-8.40 billion, citing higher LNG export volumes. The company exported 188 cargoes in Q3, up 15.3% year-over-year, with LNG revenue rising 41.8% to $6.1 billion. Middle East supply disruptions have increased buyer interest in US LNG, supporting Cheniere's volumes and prompting a dividend increase to 62.5 cents per share. Read →

QatarEnergy agreed to buy 3 million tonnes per year of LNG from Woodside Energy's Louisiana project for 20 years starting around 2030. The deal follows a separate long-term agreement with Cheniere and forms part of QatarEnergy's strategy to secure alternative supplies amid disruptions from the Strait of Hormuz. QatarEnergy is now positioned as a major buyer of US LNG to hedge its own export challenges. Read →

The EIA reported net working gas inventories rose 80 Bcf to 3,724 Bcf for the week ended Oct. 23. The build exceeded the five-year average of 77 Bcf and analyst expectations, expanding the surplus over the seasonal norm to 38 Bcf. Stocks remain 3.8% below year-ago levels but sit 1% above the five-year average. Read →

The Dutch TTF front-month contract crossed €100/MWh on October 28, up 3% that day and 38% since early October. Traders cite fears of winter LNG shortages from Strait of Hormuz disruptions that have throttled Qatari and other Middle East flows. Asian JKM also sits near four-year highs around $30/MMBtu as buyers compete for cargoes. Read →

ACER reports EU underground storage at 75% full as of October 21, below historical levels after a slow summer refill hampered by high prices and Middle East LNG disruptions. US LNG now supplies 30% of EU gas while Qatari volumes were negligible; the higher refill cost reached an upper bound of €27 billion. This low buffer supports the TTF rally as winter demand approaches. Read →

Front-month TTF briefly touched €100/MWh on October 28, the first time since the 2022 crisis. The move reflects the partial blockage of Gulf LNG shipments through Hormuz plus record-low storage levels entering the heating season. Qatari liquefaction damage and delivery suspensions extend the supply tightness. Read →

JKM reached high-US$31s/MMBtu and TTF US$30.8/MMBtu for the week ending October 23 on tightening LNG supply, Middle East tensions and colder winter forecasts. EU storage stood at 74.6% on October 23 with the first net withdrawal of the season recorded October 20; Norwegian field outages also supported European prices. Read →

US LNG feedgas demand rebounded Wednesday to 20.2 Bcf/d, up 800 MMcf/d from Tuesday per NGI Entropic data, averaging 19.2 Bcf/d in October. Sabine Pass, Plaquemines, Cameron and Golden Pass drove gains, with Freeport recovering from a power outage. Analysts see demand holding near 20 Bcf/d through mid-November, tightening near-term balances. Read →

NYMEX natural gas futures rose Wednesday ahead of November expiry, led by the front month, on improving weather signals and polar vortex speculation. Gains came despite persistent bearish supply and mild-weather demand outlooks. Traders focused on LNG strength and contract rollover dynamics. Read →

US natural gas futures for November rose 3% to $2.776/MMBtu on the last trading day, supported by higher demand forecasts and rising LNG plant flows. LSEG sees Lower 48 output at 112.1 Bcf/d in October, down from prior records, with total demand rising to 110.3 Bcf/d next week. The 12-month strip hit a 26-month low at $2.84/MMBtu. Read →

Spot prices diverged Wednesday, with Appalachia and Northeast declining while Midwest, Rockies and much of Texas rallied, leaving the national average little changed. Regional basis volatility reflects pipeline flows and localized demand. LNG feedgas strength provided underlying support. Read →

Dutch TTF front-month futures briefly exceeded €100/MWh on Oct 28, the highest since the 2022 crisis, driven by low EU storage at 75% full, rising heating demand and persistent Middle East LNG supply risks. Prices have more than tripled this year as Europe competes with Asia for scarce cargoes. Read →

EU energy ministers convene Thursday to address energy security as wholesale gas prices hit multi-year highs ahead of winter. Storage stands at 75% versus 83% a year earlier, with Middle East conflicts disrupting LNG flows through the Strait of Hormuz and lifting prices to roughly triple pre-war levels. Read →

Equinor CEO warned that cold weather could trigger sharp gas price spikes this winter given historic-low storage levels and competition with Asia for LNG. Norway remains Europe's top pipeline supplier, but global tightness from Middle East disruptions dominates the outlook. Read →

US natural gas prices rose to $3.04 per MMBtu on Wednesday, supported by rising LNG export activity. Feedgas deliveries to the nine major LNG export plants averaged 19.2 bcfd over the past two weeks, up from 18.3 bcfd so far this month. Gains were capped by forecasts for above-normal temperatures across the eastern two-thirds of the country. Read →

US natural gas futures for November delivery rose 6 cents, or 2%, to $2.662/MMBtu on Tuesday ahead of contract expiration. Average gas flows to the nine major US LNG export plants rose to 18.3 bcfd so far in October, up from 17.9 bcfd in September, with daily LNG feedgas averaging 19.2 bcfd over the past two weeks. Lower 48 output averaged 112.0 bcfd so far in October, below prior record highs. Read →

US natural gas futures picked up ahead of Wednesday’s November contract expiry, settling up 3.7% at $2.697/MMBtu. Slightly cooler weather forecasts provided some support, though the two-week outlook remains for above-normal temperatures. Colder snaps in Europe and Asia could sustain high US LNG export terminal output. Read →

TTF eased slightly Tuesday after hitting fresh highs near €97.64/MWh Monday on Norwegian supply cuts at Oseberg field escalating to 12.7 mcm/day. EU storage at 74.6% capacity marks the lowest late-October level since 2009 records began, well below the 86% historical average, anchoring a structural floor despite the pause. Depleted buffers and ongoing LNG supply disruptions from Middle East tensions sustain bullish pressure heading into winter. Read →

EU storage reached 75% by Oct 21 after a slow summer refill amid Middle East LNG flow disruptions and higher prices. Refill costs hit the second-highest decade average with US LNG rising to 30% of supply while Qatari and Russian volumes fell. The below-norm level tightens winter supply outlook and supports elevated TTF prices. Read →

QatarEnergy extended force majeure on LNG deliveries to Edison and some Pakistani clients until end-December due to Iran war disruptions closing the Strait of Hormuz. Three additional cargoes for Edison are affected, compounding earlier cancellations since April. The halt tightens global LNG availability, bolstering TTF and JKM amid competition for cargoes. Read →

One Cameron LNG train in Louisiana went offline for scheduled maintenance, cutting feedgas demand by 700 MMcf/d to 1.3 bcfd from the usual 2 bcfd. The three-train facility has 13.5 mtpa capacity; production fluctuates but customer service continues. The outage adds minor near-term US export tightness amid broader global supply constraints. Read →

US natural gas futures fell to their lowest level since April after weekend forecasts turned significantly warmer, cutting expected heating demand early in the winter season. The shift reinforces expectations of a Super El Niño delivering mild winter weather and lower gas use when demand normally peaks. Hedge funds built the largest net-short position since 2013 on the bearish view. Read →

NYMEX November natural gas futures settled down 1.4% at $2.602/MMBtu after briefly trading below $2.50, extending losses from milder near-term weather outlooks. The November contract faces expiration this week with December struggling near $3. Commitments of Traders data showed speculators increasing net shorts, though the oversold market may set up a relief rally. Read →

Front-month NYMEX natural gas futures dropped about 4% to a six-month low at $2.526/MMBtu on forecasts for milder weather and reduced demand over the next two weeks. Speculators boosted net short positions to the highest since February 2024 as prices fell 21% over seven days. The March-April 2027 futures premium narrowed to a record low of 6 cents, signaling ample winter supply expectations. Read →

NYMEX natural gas futures stumbled midday Monday as mild fall weather and recovering Lower 48 production of around 113.3 bcfd overshadowed solid LNG feedgas flows averaging 18.3 bcfd in October. November futures shed 6.1 cents to $2.579/MMBtu while December held near $3.025, with LNG demand providing the main floor under prices. Read →

Dutch TTF futures reached €97.15/MWh (+3.3%) on Monday as Arabian Gulf LNG flows stayed 80% below year-ago levels due to Middle East conflict and Hormuz shipping issues. EU storage sat at 74.62% (well below the 89% seasonal norm), with Germany at 61.48%, forcing Europe and Asia to compete harder for alternative cargoes heading into winter. ING raised its 2026-27 TTF winter average forecast to €73/MWh, highlighting sustained volatility from the tight balance. Read →

QatarEnergy extended force majeure notices, canceling further cargoes to Italian utility Edison (total now 35 undelivered) with deliveries suspended until early December, and to Asian buyers including Bangladesh and Pakistan through November. Edison has replaced 23 cargoes mainly from US sources under its 6.4 bcm/year long-term contract. The extensions stem from ongoing Strait of Hormuz disruptions tied to the US-Iran conflict, slashing Qatar's LNG exports sharply and tightening global spot supply for Europe and Asia. Read →

European benchmark TTF futures briefly exceeded €97/MWh for the first time since 2022, up as much as 4% intraday, on mounting concerns over the region's fragile winter supply balance and Middle East developments. Traders anticipate rising heating demand from forecast temperature drops across the continent coinciding with already tight global LNG availability, setting up potential bidding competition with Asian buyers. The move underscores Europe's vulnerability entering the season with below-normal storage. Read →

Dutch TTF front-month gained €3.54 to €97.39/MWh and UK NBP rose 9.90p to 240.74p/therm, both at four-year highs, driven by cooler weather forecasts boosting heating demand and persistent doubts over timely LNG shipping resumption through the Strait of Hormuz. Rystad Energy estimates 2026 global LNG import bills rising 18% to $256 billion despite lower volumes, with Europe facing at least a $12 billion increase. EU storage has plateaued near 74.6% while Norwegian exports remain steady at 324 mcm/day. Read →

US natural gas futures fell about 6% to a two-month low on Friday on forecasts for milder weather and lower demand over the next week than previously expected. LSEG data showed Lower 48 output averaging 111.6 bcfd in October, below recent record highs, while LNG feedgas flows rose to 18.2 bcfd. The storage surplus is expected to narrow further ahead of the next EIA report. Read →

Natural gas spot prices tumbled Friday with steepest losses in the Southeast and Appalachia amid recovering production and sluggish autumn demand. LNG feedgas demand stayed elevated while futures extended their sell-off on warmer weather forecasts pointing to a larger supply cushion into winter. Read →

Haynesville shale saw 17 new permits issued in the week ending Oct. 25, up two from the prior week and covering four counties with eight active operators. Activity signals continued producer interest in the basin amid LNG demand growth in southern Louisiana. Read →

Dutch TTF rose 2.9% to €96.60/MWh at the open, driven by ongoing focus on Middle East conflict and Strait of Hormuz transit risks. Markets price in potential supply disruptions to global LNG routes. The move lifts European benchmark costs for heating and power. Read →

JKM (Dec) climbed to high $31s/MMBtu on Middle East supply risks, colder European weather forecasts and stronger Northeast Asian buying from China, South Korea and India. TTF (Nov) rose to $30.8/MMBtu equivalent amid Norwegian field disruptions, lower temperatures and geopolitics; EU storage at 74.6%, first net winter withdrawal on Oct 20. Japan's LNG inventories fell week-on-week. Read →

Dutch TTF futures rose over 2% above €86/MWh to the highest since Dec 2022 on low EU storage levels versus prior years and shifting wintry weather. Middle East tensions add risk premium to LNG flows via Hormuz. Storage sits notably below seasonal norms ahead of heating demand. Read →

JKM climbed on Europe winter balance tightening, Middle East risks and Northeast Asia demand; TTF support from colder forecasts and Atlantic LNG maintenance tightens supply. Singapore bunker premium over ARA widened as December JKM rolled higher. Asian buyers compete aggressively for cargoes despite elevated prices. Read →

Permian Basin gas production set new records, yet Waha cash prices remained positive and above 2025 levels. New takeaway capacity is routing supply to Gulf Coast and other markets. Producers continue to manage localized pressure while basin output grows. Read →

Dutch TTF hit €91.42/MWh intraday on Oct 22, up 4.8% from the prior close and the highest since Dec 2022. The move reflects geopolitical tensions in the Middle East plus EU storage at 75% full, well below seasonal norms, tightening the winter balance and supporting prices. Read →

TTF exceeded €91/MWh on Oct 22 amid Middle East tensions and winter supply concerns, with year-to-date gains over 220%. Analysts cite low inventories and geopolitical risks as the key drivers pushing the European benchmark to multi-year highs. Read →

TTF rose 2.7% to the equivalent of $100.84/MWh on Oct 22, the highest level since Dec 2022. Escalating Saudi-Houthi and Iran-related tanker incidents plus EU storage at only 74% full are cited as immediate drivers tightening the European gas balance. Read →

November delivery futures fell 12.7 cents or 4.3% to $2.84/MMBtu on Wednesday, the lowest since Sept. 22. Mild temperatures through early November cut expected heating demand despite robust LNG export flows averaging 18.2 bcfd so far in October. Higher domestic production and continued storage builds are offsetting export support, pressuring near-term prices. Read →

Spot prices posted double-digit gains at Southeast and Appalachia hubs on Wednesday while futures sold off on mild weather forecasts. LNG feedgas demand rebounded sharply and East region production exceeded recent averages. The split highlights regional tightness amid national futures weakness. Read →

A pipeline leak curtailed mid-October Appalachia production, likely producing a lean East region injection in Thursday’s EIA report. Inventories could shift to a deficit versus 2025 levels. The development tightens the regional balance ahead of winter despite national storage remaining near the five-year average. Read →

November futures fell below $2.80/MMBtu Wednesday ahead of the storage report even as South Central salt inventories sit sharply depleted. The regional shortfall raises vulnerability to unexpected winter demand spikes. Mild weather is masking underlying supply tightness in key storage areas. Read →

Kpler data shows Northeast Asia LNG arrivals likely reaching 23.31 million tons in October, the strongest since July and second-highest since the Middle East conflict began. Spot JKM prices hit the highest since December 2023 at around $29.30/MMBtu in the prior week. China’s price-sensitive buying signals winter demand overriding costs, tightening global cargoes available for Europe and supporting TTF via the arb. Read →

Dutch TTF futures slid as much as 5.3% after peaking near €90.24/MWh, the highest since late 2022, on profit-taking. Storage sites are about 75% full, the lowest for the season in records back to 2009, with Germany just over 61%. The surge still piles pressure on consumers and industry even as prices remain below prior crisis peaks. Read →

US natural gas futures for November delivery fell 6.5 cents or 2.1% to $2.99/MMBtu on Tuesday, hitting the lowest level since October 2. Forecasts for warmer-than-normal temperatures through early November cut expected heating demand, outweighing support from robust LNG exports averaging 18.2 Bcf/d and Lower 48 output at 111.4 Bcf/d. LSEG data showed next-week demand rising only to 110 Bcf/d, well below the five-year average of 117 Bcf/d. Read →

NGI projects an 82 Bcf injection into storage for the week ended Oct. 16, up 15 Bcf week-over-week and near the lower end of the five-year range. Power-sector deliveries dropped 1.4 Bcf/d to 35.9 Bcf/d amid higher wind generation, while LNG feedgas surged 1.5 Bcf/d to 19.2 Bcf/d and total supply fell 2.3% to 111.1 Bcf/d. Storage could enter withdrawal season at 3,793 Bcf, below last year’s level. Read →

EU underground gas storage stood at 74.6% full (845 TWh) on gas day Oct 19, 2026, down from 82.8% a year earlier and 16-17pp below the five-year seasonal average. Germany (61.2%) and the Netherlands (64.7%) lag most among major markets, while Poland nears full. The shortfall limits the buffer against winter demand and LNG supply risks, keeping upward pressure on TTF as injection season ends. Read →

Dutch TTF settled near €86.65/MWh on Oct 20 (down 1.23% d/d but up 8.5% over 30 days), with EU storage at 74.6% (-17.4pp vs norm). JKM at $29.55/MMBtu creates a $1.87-1.98/MMBtu Asian premium that diverts flexible Atlantic cargoes eastward. Low storage and tight LNG flows support TTF as Europe heads into winter with limited refill room. Read →

JKM spot traded at $29.55-$30.01/MMBtu, holding a $1.87-$1.98/MMBtu premium to TTF-equivalent prices and keeping Atlantic-basin cargoes competitive for Asia. US Gulf exports remain the swing supplier but face elevated competition; Qatar volumes stay curtailed by Hormuz issues. The spread directly constrains European LNG send-out and reinforces storage-driven price support. Read →

Front-month November futures fell 4.9 cents or 1.6% to $3.07/MMBtu as milder October temperatures cut expected heating demand. The drop outweighed support from a below-consensus 67 Bcf EIA storage build the prior week, robust LNG export flows averaging 18.1 bcfd in October, and Lower 48 production averaging 111.3 bcfd, down from recent highs. Read →

Natural gas futures rose early Monday as LNG feedgas demand hit a record 20.7 bcfd, more than offsetting the return of 1.9 million Dth/d Appalachian supply after Columbia Gas Transmission ended its Mountaineer XPress force majeure. Power burn fell 5.8 bcfd week-over-week amid the mixed signals. Read →

Futures edged higher as forecasts turned colder for the eastern US, boosting near-term heating demand, while Gulf Coast LNG feedgas flows increased and reduced domestic supply. Gains stayed limited as Gulf of Mexico production recovered from prior Hurricane Isaias shut-ins. Read →

November futures slipped midday to around $3.083/MMBtu as traders balanced strong LNG demand against milder fall weather outlooks. Spot prices opened mixed while LNG feedgas provided the main counterweight to weakening domestic fundamentals. Read →

Spot Asian LNG prices jumped to $30.4/MMBtu Monday, the highest since December 2022, after UKMTO reported an LNG carrier fired on near Yemen amid rising strikes in the Red Sea and Strait of Hormuz. The attacks dampen recovery hopes for Qatari exports trapped behind Hormuz, intensifying Asia-Europe competition for winter cargoes as EU storage sits at 74% versus a 89-90% seasonal norm. This drives JKM higher and keeps the TTF-JKM arb supportive of diversions. Read →

Argus ANEA for northeast Asia rose to $29.97/MMBtu on 19 October, up $1.04 day-on-day and near the December 2022 peak, lifted by TTF strength at €88-89/MWh and escalating Hormuz attacks that cut Middle East loadings to 2-3 cargoes weekly. Slower EU storage injections (only +0.79pp recently) and winter procurement concerns add support. Northeast Asian demand stays muted on mild-winter bets but Atlantic basin buying keeps inter-basin competition firm. Read →

Asian spot LNG exceeded $30/MMBtu for the first time since December 2022 after an LNG carrier was attacked in the Red Sea/Gulf of Aden over the weekend. Qatari supply remains heavily curtailed, forcing buyers to bid aggressively in a market where Asia and Europe race for winter gas while EU storage lags the five-year average by 15pp. A rare Qatari cargo transiting the Red Sea to Poland highlights route risks but does little to ease the broader tightness. Read →

European wholesale gas futures surged to multi-year highs Tuesday on unplanned outages at Norway's Kårstø processing plant and other Gassco infrastructure that cut pipeline exports to northwest Europe. Combined with Hormuz disruptions forcing LNG reroutes around Africa and EU storage at just 73%, the physical tightness forced aggressive spot buying and lifted TTF benchmarks. Read →

US natural gas prices fell to $3.08 per MMBtu on Monday, extending prior session losses amid persistent mild temperatures that limit both heating and cooling demand. El Niño-related expectations continue to weigh on the winter demand outlook. LNG feedgas flows slipped to 17.6 bcfd so far in October from 17.9 bcfd in September, while Lower 48 output averaged 110.8 bcfd, down from August-September records. Read →

Columbia Gas Transmission's second pipeline outage in three weeks bolstered US gas futures into the $3.20s, but the rally failed amid a balmy winter outlook. The force majeure highlights ongoing Appalachian supply constraints even as broader market sentiment turns cautious on demand. Read →

US natural gas futures reached a one-week high Monday on a drop in Lower 48 output over recent weeks and forecasts for cooler weather and higher demand through early May. Average flows to nine major LNG export plants rose to 18.9 bcfd so far in April (contextual recent strength noted), with a tanker arriving at Golden Pass for its inaugural export. Read →

Front-month NYMEX natural gas futures climbed about 2% on Monday to $3.391/MMBtu on near-record flows to LNG export plants and forecasts for more demand this week than previously expected. Average gas flows to eight big US LNG plants rose to 16.2 bcfd so far in October, with Plaquemines hitting a record 3.6 bcfd on Sunday. Read →

The Dutch TTF front-month contract rose above €86/MWh Monday morning, its highest since December 2022. Storage stands well below year-ago levels as mild weather gives way to colder conditions. The surge reflects tighter global LNG supply after Middle East shipping disruptions. Read →

JKM climbed to the high-USD 29s/MMBtu for December delivery while TTF reached USD 28.9/MMBtu. Both benchmarks gained on European winter supply concerns, reduced Norwegian flows, and Middle East geopolitical risks. EU storage hit 74.3% on Oct 16, down sharply year-on-year. Read →

EU aggregate storage is 74.47% full versus a 90.4% five-year average for the date. Injection momentum is weak at +0.16%/day with Germany and the Netherlands lagging. This structural deficit underpins the winter risk premium in TTF. Read →

JKM assessed at $29.80/MMBtu and TTF equivalent $28.46/MMBtu, leaving Asia at a $1.34/MMBtu premium. The spread keeps the Pacific diversion window marginally open amid competing winter demand from Northeast Asia and Europe. Read →

November futures rose 6.4 cents to $3.262/MMBtu after the EIA's 67 Bcf build missed forecasts. Lower 48 output fell to 110.7 bcfd in October from record highs due to Gulf shut-ins from Hurricane Isaias and multiple pipeline force majeures. Demand forecasts rose for next week while LNG feedgas slipped to 17.6 bcfd. Read →

Columbia Gas Transmission declared a new force majeure on its MXP Line effective Oct. 15 evening, eliminating 1.9 Bcf/d of firm service from Appalachian receipts due to a leak in West Virginia. The outage compounds an existing Braxton constraint and contributed to a 1,853 MMcf/d drop in Northeast dry gas production. It supports prices by limiting future storage builds. Read →

A below-consensus 67 Bcf EIA storage injection and the major TCO Appalachian pipeline outage drove modest gains in November futures. Robust LNG feedgas demand and production declines from recent hurricanes and force majeures added support. Mild weather forecasts through late October limited broader upside. Read →

ING notes European TTF prices hit highest since Dec 2022 on Persian Gulf LNG flows 80% below year-ago levels. EU storage sits just under 75% full, well below the five-year average of 89%, prompting Germany to direct SEFE to buy and store an extra 8 TWh by mid-Dec. Analysts expect Asia-Europe spot cargo competition to keep prices supported through winter, with TTF now forecast to average €73/MWh. Read →

Dutch TTF touched €87.43/MWh intraday, its highest since Dec 2022, driven by weak Qatari LNG deliveries and EU storage below seasonal averages. Qatari Sept exports reached only 1.6 Mt versus pre-war norms, with Oct shipments on track for just 0.6 Mt per Kpler data. EU storage stood at 833.43 TWh as of Oct 12, with Germany at 60% full. Read →

European LNG imports declined 13% year-on-year in Q3 2026 to 21.52 million tonnes. Spain, Germany, Poland and Belgium saw sharp drops while storage stood at 73% as of early Oct, prompting a lowered November target from 90% to 80%. Flows remain tied to price differentials between basins. Read →

Asia’s JKM benchmark sits at $29.78/MMBtu, flat on the day but maintaining a $1.34/MMBtu premium to European TTF at $28.44/MMBtu. Non-Middle East physical premiums remain elevated amid tight charter markets. Key drivers include seasonal demand, exporter availability and the Europe-Asia arbitrage window. Read →

US natural gas futures for November delivery fell 4.6 cents to $3.237/MMBtu on Wednesday amid forecasts for milder-than-normal weather through late October and a modest rebound in daily output. Lower 48 production averaged 110.8 bcfd so far in October, down from record highs, while LNG feedgas flows eased to 17.5 bcfd. The moves cap recent gains and reflect subdued near-term demand. Read →

Natural gas futures moved sharply lower mid-week as production recovered from hurricane and pipeline disruptions while weather forecasts turned milder, limiting heating and cooling demand. Spot prices showed mixed regional support from LNG demand. Traders positioned ahead of the Thursday EIA storage report, with the surplus expected to narrow further. Read →

US natural gas futures retreated Wednesday despite stronger cash prices and robust LNG feedgas demand as offshore production recovered and late-October warmth weighed on the outlook. LNG flows to major terminals remained supportive but eased month-to-date. The pullback followed a multi-day rally tied to prior supply tightness. Read →

US LNG feedgas demand climbed to a six-month high as Cove Point LNG returned from maintenance, Freeport LNG ramped back toward three-train operations, and Golden Pass LNG hit record intake near 0.666 Bcf/d. The rebound added support to Gulf Coast pricing and overall demand even as total monthly averages eased slightly from September peaks. Read →

European natural gas prices fell below €86 per megawatt-hour on Thursday after rallying to multi-year highs on Persian Gulf supply risks and low winter storage. Shipping disruptions through the Strait of Hormuz have constrained LNG flows from the Middle East. EU storage is around 74% full, below historical averages, with colder forecasts ahead limiting further downside. Read →

Wholesale natural gas futures in Europe and Britain retreated on Wednesday from multi-year highs as Norwegian pipeline supply normalized after Gassco resolved short-term disruptions. The Dutch front-month TTF contract fell 1.8% to around €84.45/MWh. EU storage at 73% capacity remains low, and a cold snap forecast for northeastern Europe from next weekend curbs further price declines. Read →

TTF closed yesterday at just over €87/MWh, its highest since December 2022, up nearly 20% since end-September. Short-term drivers include colder October weather forecasts boosting demand, stronger Asian buying, an unplanned Kårstø outage cutting Norwegian supply by 13 mcm/d, and Atlantic LNG maintenance. Longer-term tightness stems from Middle East geopolitics and decade-low EU storage levels. Read →

US natural gas futures for November delivery rose 0.2 cent to $3.169/MMBtu on Tuesday. LSEG data showed Lower 48 output averaging 110.6 bcfd so far in October, down from record 113.3 bcfd in August/September, with daily output tracking an eight-month low of 107.1 bcfd due to Hurricane Isaias shut-ins and pipeline issues. Milder weather forecasts lowered expected demand next week to 106.1 bcfd from prior views, while LNG feedgas flows averaged 17.4 bcfd, below September levels; offshore Gulf production recovery left 0.5 bcfd still shut in. Read →

Front-month November Dutch TTF rose 1.8% to €85.85/MWh Tuesday, its highest since December 2022. Prices have more than tripled in 2026 after Strait of Hormuz disruptions stranded nearly a fifth of global LNG flows. EU storage at 73% full, well below the five-year average, heightens winter scramble risks for LNG. Read →

Equinor agreed to deliver 9 TWh/year (0.9 bcm) of Norwegian gas to Eneco for the Dutch grid starting Oct 1. It is the third long-term deal between the firms this year and includes verified lower-emissions attributes. The contract bolsters reliable northwest Europe pipeline supply amid tight LNG markets. Read →

Taiwan's economy ministry reported significant progress on CPC buying 6 mtpa of Alaska LNG with up to $4.4 billion investment. The project targets first exports in 2031 and would bypass Panama Canal/Horn of Africa routing for Asian buyers. It adds long-term US supply options for Asia as Middle East flows remain disrupted. Read →

Qatar's October LNG exports are on track for just 0.6 mt amid ongoing Hormuz shipping risks and force majeure extensions. Iranian attacks have idled 17% of Ras Laffan capacity with repairs potentially taking years. The sustained cut keeps global LNG markets tight and supports elevated TTF/JKM prices into winter. Read →

November NYMEX futures fell 9.4 cents to $3.126/MMBtu as LSEG cut next-week Lower 48 demand forecast from Friday levels. Pennsylvania spot prices hit multi-year lows near $0.61/MMBtu from pipeline constraints and mild weather. Output slipped to a four-month low near 108.9 bcfd while LNG feedgas flows rose toward an 18.8 bcfd five-month high. Read →

NYMEX gas settled down 1.6% at $3.167/MMBtu after forecasts showed above-normal temperatures through mid-October delaying heating demand. Offshore shut-ins from Hurricane Isaias eased to 0.53 bcfd from 1.3 bcfd. Traders expect prices to trade in a $3.07-$3.17 range barring further storm damage. Read →

Futures fell for a second day to $3.15/MMBtu as Gulf producers restored output after Isaias and eastern US temperatures are forecast above average October 22-26. October LNG feedgas averaged 17.4 bcfd, down from September, while EIA storage rose 85 Bcf week ending Oct 2, above the 79 Bcf consensus. Read →

The Al Fat'h arrived at PipeChina Yangpu terminal in Hainan with cargo loaded at Venture Global's Plaquemines plant, the first direct US LNG shipment to China since February 2025. Analysts expect re-export via bonded storage rather than domestic consumption due to tariffs and weak Chinese demand. Read →

November TTF futures rose about 2.1% to €86.09/MWh by mid-morning Bulgarian time on ICE data, up from a €84.351 close the prior day. Day-ahead at Balkan Gas Hub settled at €72.82/MWh. The move aligns with broader reports of European prices lifting on sub-seasonal storage and weather-driven demand signals. Read →

EU storage closed Q3 just under 72% full after slower injections amid flat consumption and reduced LNG imports. Injections likely end early November, setting up low end-winter stocks on 1 April 2027 and a tight 2026/27 winter balance given curtailed Hormuz LNG flows and Asia-Europe cargo competition. Read →

At least four LNG carriers originally bound for Asia rerouted to Europe last week, including US-origin vessels now heading to UK and Belgian terminals. The shift occurs as EU storage sits at 74%, below the five-year average, prompting buyers to secure winter supplies amid global competition for cargoes. Read →

US natural gas futures fell to around $3.15/MMBtu Monday after hitting a two-week high on Gulf supply disruptions from Hurricane Isaias. Producers shut in 1.3 Bcf/d or 59% of offshore Gulf output, but overall US supply impact stayed limited as offshore volumes represent just 2% of marketed production. EIA data showed an 85 Bcf storage injection for the week ended Oct. 2, above the 79 Bcf expectation, while October LNG feedgas averaged 17.1 Bcf/d, down from September's 18.0 Bcf/d due to Freeport and Cove Point maintenance. Read →

Physical natural gas prices declined Thursday led by pipeline-constrained Appalachia and California hubs. Henry Hub reclaimed a premium to NYMEX settlement amid the broader downtrend. Pipeline outages including Texas Eastern Line 15 in Kentucky continue to bottle up Appalachian supply, keeping regional cash prices under pressure into early November. Read →

November natural gas futures settled up 1.6% at $3.22/MMBtu Friday, their highest close since Sept. 24, as Hurricane Isaias prompted evacuation of offshore platforms and shut in 1.3 Bcf/d of Gulf output. The storm's mixed effects include potential demand losses from outages and flooding that offset some supply tightness, while LNG exports face shipping delays. Read →

Natural gas futures settled down 1.1% at $3.168/MMBtu Thursday after the EIA reported an 85 Bcf injection for the week ended Oct. 2, above the 79 Bcf WSJ analyst consensus. Inventories reached 3,500 Bcf, 68 Bcf above the five-year average but 130 Bcf below year-ago levels, trimming some bullish momentum ahead of the Isaias storm. Read →

Severe damage at Qatar’s Ras Laffan LNG complex will likely keep production below nameplate for months even after any Hormuz reopening, according to Wood Mackenzie. Analysts warn TTF could average EUR 60-100/MWh depending on repair timelines and buyer caution. The outage tightens global LNG supply, supporting European benchmark prices ahead of winter. Read →

EU gas storage stood at 72.4% full on Oct 3, the lowest for the date since records began in 2011. IEEFA estimates storage will supply 7.3 bcm less gas this winter than last, potentially requiring a 7% demand reduction or extra €3 billion in imports. Hormuz disruptions and the impending Russian LNG ban from 2027 compound the tight balance. Read →

EU storage is at 67% full, far below the 80% December target and seasonal norms, with Shell and Equinor executives highlighting vulnerability. Hormuz closure has cut 36 mt of Qatari/UAE LNG supply this year, forcing Europe to compete harder with Asia for US cargoes. A cold winter could require demand destruction or sharp price spikes. Read →

JKM rose 0.12% to $25.98/MMBtu, with the arb spread showing a modest JKM premium of $2/MMBtu over TTF equivalent. EU storage at 73.6% (below 92% norm) limits European bidding power for Pacific cargoes. Neutral sentiment reflects balanced but tight Atlantic-Pacific dynamics heading into winter. Read →

November Henry Hub futures rose 7.4 cents or 2.3% to $3.277/MMBtu, the highest close since Sept. 24 and fifth straight gain. Lower-48 output fell toward 108.5 bcfd on Gulf of Mexico pipeline reductions ahead of Hurricane Isaias plus earlier Appalachian and Texas force majeures; LSEG raised this week's demand forecast. The move came ahead of the EIA storage print and despite expectations of a below-average injection. Read →

Working gas in Lower-48 storage reached 3,500 bcf after an 85 bcf injection for the week ended Oct. 2, exceeding the 79 bcf analyst median and leaving stocks 68 bcf above the five-year average but 130 bcf below year-ago levels. Production pulled back sharply to 107.4 bcfd with Isaias weighing on offshore volumes; LNG feedgas was also lower at Freeport and Cove Point. Read →

EU underground gas storage stood at 72% full on Oct 1 after a challenging injection season, the lowest on record for the date. ENTSOG's outlook says infrastructure can meet winter demand under base cases but warns storage could drop below 30% by March without strong LNG inflows; continued injections and monitoring urged. Low stocks heighten reliance on global LNG amid volatile prices from Middle East disruptions. Read →

ENTSOG states Europe can meet winter gas demand despite storage at historically low 72% on Oct 1 versus 83% a year earlier. LNG import capacity can offset weaker stocks, but limited availability risks stocks below 30% by winter's end. Continued early-winter injections and monitoring needed; storage varied widely, e.g., 85% in France vs 59% in Germany. Read →

JKM LNG monthly futures saw record trading volumes driven by tender activity and sharp inter-hub spreads, with JKM-TTF arb moves prompting hedging. Colder European weather expectations widened spreads and supported prices despite LNG inflows. Activity concentrated in 2026 delivery months amid Northeast Asia heating-season positioning. Read →

Front-month November NYMEX futures rose 5.1 cents to $3.165/MMBtu on Wednesday. LSEG data showed average Lower 48 output falling to 111.5 bcfd in early October from 113.3 bcfd record highs in August-September, partly from force majeures on pipelines in Kentucky, Texas and West Virginia. Traders also cited expected higher LNG feedgas flows and Tropical Storm Isaias, forecast to strengthen into a hurricane and hit the Gulf Coast near Mississippi-Alabama-Florida early Saturday. Read →

November futures climbed 8.9 cents to a nearly two-week high of $3.203/MMBtu. LSEG reported Lower 48 output at 111.5 bcfd so far in October versus prior records, with daily LNG feedgas flows expected to rise toward Freeport and Cove Point. The National Hurricane Center forecast Isaias strengthening into a hurricane and making landfall late Friday, though most Lower 48 production occurs far from the Gulf. Read →

Next-day cash prices rose in the Gulf Coast and Southeast alongside NYMEX gains but fell double-digits in Appalachia and the West. Futures extended a fourth straight session higher on light production readings and the intensifying Tropical Storm Isaias. Regional spot weakness in Appalachia reflected softer Northeast demand amid storms. Read →

Futures jumped in Wednesday morning trade on LSEG’s light production estimates near 107-108 bcfd daily and Isaias’s potential to curb Gulf supply. Demand forecasts sat near 105 bcfd. The storm track and any LNG or power-demand impacts remain key variables for the balance. Read →

QatarEnergy’s first North Field East expansion train will be mechanically ready in November, with LNG production expected in Q1 2027. This offers a partial offset to the 17% capacity loss from earlier Ras Laffan damage amid Hormuz issues. The milestone signals longer-term supply relief but does not ease near-term global LNG tightness driving TTF and JKM. Read →

Dutch TTF front-month settled at €80.32/MWh, up 1.47% intraday with a high of €80.68, extending gains from €78.69 prior close. The move aligns with EU storage at 73% (well below seasonal norms) and limited injection momentum. Low inventories amplify sensitivity to any weather-driven demand or supply hiccups, lifting the European benchmark. Read →

TTF traded near €79.34/MWh, up €2.94 or 3.85% from the prior session, with 7-day gains of +9.9%. EU storage sits at 73%, 19 percentage points below the 92% seasonal norm, keeping injection needs elevated into November. The combination sustains upward pressure on TTF as Europe competes for LNG cargoes against Asian buyers at JKM $25.87/MMBtu. Read →

Front-month November NYMEX futures rose 1.9 cents to $3.085/MMBtu, the highest close since Sept. 25, on LSEG data showing Lower 48 output averaging 111.7 bcfd in October, down from 113.3 bcfd records in August and September. Pipeline force majeures in Kentucky, Texas and West Virginia cut daily flows toward a four-month low near 109 bcfd, while Freeport LNG feedgas ramped higher after a train returned from maintenance, lifting daily LNG intake toward 17.6 bcfd. The December-November spread narrowed to a record-low 28 cents, signaling ample winter supply despite the price gain. Read →

Prices climbed to around $3.13/MMBtu, their highest since Sept. 25, supported by falling production, higher LNG feedgas flows and warmer western US forecasts that lifted cooling-related power demand. LSEG tracked output sliding to 111.7 bcfd in October amid pipeline disruptions, while Freeport LNG ramped intake after maintenance. Above-average temperatures through Oct. 10 are expected to boost gas-fired generation in the West. Read →

Venture Global is in early-stage discussions for long-term contracts with at least three Chinese importers including PetroChina to supply LNG from its Louisiana facilities. The talks come as the Iran war disrupts global shipments and China seeks supply diversification. A prior 20-year deal with China Gas Holdings for 0.5 million metric tons per year starting in 2030 was already signed in September. Read →

Energy Transfer LP agreed to buy Vaquero Midstream LLC for about $2.63 billion in cash and stock, expanding its Permian Basin natural gas pipeline network. The deal adds midstream assets in Texas that support growing Permian gas production and takeaway capacity. Read →

Dutch TTF front-month futures traded up to €76.53/MWh intraday on October 7, closing near €76.50 after opening around €76.15. The gain builds on the prior session's strength as markets price in Europe's below-average storage levels heading into winter. Low Norwegian pipeline flows and competition for LNG cargoes from Asia underpin the move. Read →

EU underground gas storage reached 824.7 TWh (72.8% full) for the week ending October 5, 184.7 TWh or 18.3% below the five-year seasonal average. The persistent deficit versus norm forces continued reliance on LNG imports and supports higher TTF prices to secure cargoes amid Asian competition. Read →

US natural gas futures for November rose 1.3 cents to $3.048/MMBtu, holding near a one-week high. LSEG raised its Lower 48 demand forecast to 106.2 bcfd for this week and next after a Kentucky pipeline force majeure by Enbridge's TETCo cut daily output toward a four-month low of 109.3 bcfd. LNG feedgas flows were on track to rise to a one-week high of 17.6 bcfd Monday with Freeport LNG's expected train restart supporting prices. Read →

Freeport LNG's Train 2 shut Friday for compressor maintenance, cutting flows; LSEG data showed feedgas rising to 1.9 bcfd Monday from 1.2 bcfd over the weekend. The plant's three trains can process about 2.4 bcfd total. Restart timing affects US Henry Hub prices because feedgas demand swings move domestic balances sharply. Read →

NGI projects the EIA report for the week ended Oct. 2 will show a 79 Bcf injection, slightly narrowing the year/year deficit to 136 Bcf and the surplus to the five-year average to 62 Bcf. Power burn fell 4.0 bcfd week/week to 38.1 bcfd as temperatures moderated, while LNG feedgas held steady near 18.4 bcfd. Managed-money net shorts in Henry Hub futures jumped 72% week/week per CFTC data. Read →

QatarEnergy extended force majeure on LNG deliveries to Italy's Edison until early December and to buyers in Bangladesh, Pakistan and India until November, as the Strait of Hormuz remains largely closed following the US-Iran conflict. This adds six more cancelled cargoes for Edison, bringing the total to 35 undelivered shipments or about 4.6 bcm of gas. The extension tightens global LNG supply into winter, supporting higher TTF prices as Europe competes with Asia for alternative cargoes. Read →

Trinidad's Atlantic LNG shut its 6 mtpa Train 4 for planned maintenance on or around early October, an outage expected to last nearly two months and remove up to 50% of the plant's output. The facility is jointly owned by Shell, BP and NGC. The curtailment adds to global LNG tightness already caused by lost Qatari volumes, limiting Atlantic-basin supply available for Europe and Asia. Read →

EU underground gas storage stood at 72.7% full (823 TWh) on gas day October 4, up only modestly week-on-week and roughly 10-18 percentage points below the five-year average and seasonal norms. Germany sits at 59% and the Netherlands around 60%, leaving limited buffer ahead of winter drawdown. Low inventories heighten sensitivity to any further LNG supply shortfalls or cold weather. Read →

LNG Canada partners took FID on Phase 2 expansion at Kitimat, adding two trains and infrastructure to double nameplate capacity from 14 mtpa to 28 mtpa, with commercial operations targeted for the early 2030s. The project includes extra storage and berth capacity plus pipeline expansions. While positive for long-term global supply, it provides no near-term relief to current TTF or JKM tightness. Read →

November futures rose 4.7 cents to $3.44/MMBtu, the highest since Oct 8. Sharply colder 1-2 week outlooks boosted heating demand expectations while output remained below recent peaks. LNG feedgas averaged 16.5 bcfd so far in October, adding structural support. Read →

November futures fell 0.5 cents to $2.962/MMBtu on Friday. Milder weather forecasts cut expected demand over the next two weeks. Storage surplus narrowed to about 1.8% above normal ahead of Thursday's EIA report. Read →

EIA reported gross withdrawals reached a record 137 Bcf/d in July 2026. Permian Basin growth in Texas and New Mexico added 1.7 Bcf/d from June. New pipelines including Hugh Brinson eased Permian takeaway constraints toward Gulf Coast LNG terminals. Read →

At least three LNG shipments exited the Strait of Hormuz since late last week per ship-tracking data from Bloomberg and Kpler, extending a September rebound. Outbound traffic hit the highest level since the Iran conflict began but remains over 75% below pre-war levels. Reduced disruption risk supports global LNG availability and eases upward pressure on both TTF and JKM benchmarks. Read →

JKM eased 0.31% to $25.70/MMBtu with neutral market sentiment as of October 5. The JKM-TTF spread sits around $1.50-$3.50/MMBtu premium, signaling balanced cargo competition. EU storage at 72.4% (below 92% norm) continues to shape European bidding for Pacific cargoes and supports JKM levels. Read →

Qatar has shipped just 98 cargoes since the Hormuz closure, a 39 million tonne shortfall or 9% of prior global supply. Europe enters winter with storage at 72%, the lowest on record for the date versus 90% average. A cold snap could push prices to $30-40/MMBtu as buyers compete for non-Hormuz cargoes. Read →