Nat Gas
Every weekday's nat gas stories from Morgan Downey's Commodity News email, newest first, with the day's what-moved line (Mon, Jun 15 to Fri, Jul 10). Open a date for the full issue across every commodity.
US Nat Gas
What's moving · Freeport LNG maintenance and 61 Bcf EIA storage build drive US natgas to six-week low near $3.01/MMBtu.
Storage build and Freeport outage sink natgas futuresNatural Gas Intelligence
The EIA's 61 Bcf injection exceeded expectations despite record heat and power demand. Freeport LNG maintenance announcement curbed confidence in near-term LNG exports. Futures fell sharply with cash prices also retreating amid ample supply signals.
Read → EIA reports 61 Bcf injection, sinks futuresChris Newman · Natural Gas Intelligence
The EIA reported a 61 Bcf net injection for the week ended July 3, a bearish surprise versus forecasts despite heat-driven demand. Working gas reached 2,983 Bcf, 185 Bcf above the five-year average. The larger-than-expected build accelerated futures declines.
Read → Spot prices fall on ample supply signalsKevin Dobbs · Natural Gas Intelligence
Henry Hub spot prices retreated as buyers focused on strong overall supply rather than summer cooling demand. Western and cooling demand outlooks contrasted with LNG support concerns. Cash market weakness reflected elevated inventories and production levels.
Read → Global Nat Gas & LNG
What's moving · TTF slips 2% to €49.3/MWh on easing US-Iran tensions and Freeport LNG maintenance cutting US LNG supply to Europe.
US LNG to Europe falls below 42% in June as Asia takes moreCurtis Williams · Reuters
US LNG shipments to Europe dropped to just under 42% of total exports in June, the first time below 50% since July 2024. Stronger Asian spot prices (JKM averaged $17.33/MMBtu vs TTF at $13.19/MMBtu) and record Egyptian buys diverted cargoes eastward. The shift tightens northwest Europe LNG send-out and slows storage injections at a time when refill pace already lags.
Read → Freeport starts major maintenance July 10 through late AugustJacob Dick · Natural Gas Intelligence
Freeport LNG will begin a major turnaround at its Texas terminal on July 10, running through late August. Feedgas nominations have already eased and US natgas prices hit six-week lows on the outlook for lower exports. Reduced US LNG availability further limits spot cargoes reaching northwest Europe, supporting the TTF-JKM arb dynamic.
Read → US natgas at 6-week low on Freeport maintenance, big storage buildMarine Link
Henry Hub futures fell to a six-week low after Freeport LNG confirmed major maintenance starting July 10. A larger-than-expected US storage build also weighed. Lower US LNG output tightens global spot supply, with implications for European and Asian benchmarks as fewer cargoes head to TTF hubs.
Read → US Nat Gas
What's moving · US natgas futures hold near $3.22/MMBtu as LNG feedgas rebounds to 18.2 Bcf/d amid heat-driven power burn.
US LNG feedgas rebounds to 18.2 Bcf/d after Sabine maintenance dipJacob Dick · Natural Gas Intelligence
US LNG feedgas demand recovered to 18.2 Bcf/d on Wednesday despite Sabine Pass compressor maintenance that cut nominations to 3.9 Bcf/d Tuesday. Plaquemines ran near full at 3.9 Bcf/d and Freeport hit a summer high of 1.7 Bcf/d. The stabilization supports export demand that averaged 17.8 bcfd in July so far.
Read → Natgas futures rangebound ahead of storage report and Iran newsKevin Dobbs · Natural Gas Intelligence
August NYMEX futures see-sawed and closed little changed as traders weighed hot weather, lighter production, and expectations for a 55 Bcf storage build. Geopolitical uncertainty from Iran-US tensions added volatility but failed to break the summer trading range.
Read → Futures tread water despite Iran conflict and heat forecastsAndrew Baker · Natural Gas Intelligence
August futures slipped less than a penny to $3.259/MMBtu midday as Middle East escalation and strong two-week heat maps provided little lift. Traders focused on domestic fundamentals including ample supply and upcoming storage data.
Read → Global Nat Gas & LNG
What's moving · TTF jumps 5% as Qatari LNG tanker hit near Hormuz renews supply-risk premium.
Qatari LNG tanker stranded off Oman after Hormuz strikeReuters
The Al Rekayyat, a Qatari-owned LNG carrier, was struck overnight Tuesday near the Strait of Hormuz exit, sparking an engine-room fire and stranding it off Oman. Industry sources say cargo tanks appear secure with low explosion risk, but two support vessels stand by. The incident follows recent tanker attacks and escalates risks to 20% of global seaborne LNG flows from Qatar and the UAE.
Read → TTF rises 3% to 47.9 EUR/MWh on Hormuz LNG risksYahoo Finance / Reuters
Dutch TTF front-month rose 3% to 47.9 EUR/MWh and UK NBP climbed 5.4% as renewed US-Iran tensions and tanker strikes in the Strait of Hormuz revived fears over LNG shipping security. The Strait handles 20% of global LNG; any prolonged disruption adds a geopolitical premium despite Europe’s summer storage season. Traders repriced supply risks sharply higher.
Read → TTF surges 5% on renewed US-Iran Hormuz clashesQuantum Commodity Intelligence
European TTF prices rallied 5% Wednesday for a second session after US strikes on Iran and fresh attacks on merchant vessels in the Strait of Hormuz. The move directly reflects heightened risk to Qatari and Emirati LNG exports that transit the chokepoint. Renewed hostilities threaten the fragile ceasefire and keep a supply-premium bid in the European benchmark.
Read → US Nat Gas
What's moving · Futures near $3.28 as falling output and rising LNG flows support prices amid mixed weather.
EIA lifts 2026 price view but sees 2027 drop on supply growth.Andrew Baker · Natural Gas Intelligence
EIA raised its 2026 Henry Hub forecast while projecting a 2027 decline as production growth outpaces demand gains from record power burn and LNG exports. End-October inventories are seen at 3.97 Tcf. The outlook highlights ample supply capping prices despite rising consumption.
Read → August futures climb on late-July heat outlook but stay rangebound.Jodi Shafto · Natural Gas Intelligence
August Nymex natural gas futures rose Tuesday on sustained late-July heat forecasts across much of the US. Comfortable supply fundamentals, including production levels near 109 bcfd and LNG flows, limited gains and kept prices in recent trading ranges.
Read → Cash prices rise in Permian and SoCal on western heat.Jodi Shafto · Natural Gas Intelligence
Next-day physical prices edged higher Tuesday with gains in the Permian Basin and Southern California driven by western heat. Modest weakness appeared in some premium Southeast markets, reflecting regional demand variations.
Read → Wind surge cuts gas power burn 10% below year-ago in storage week.Chris Newman · Natural Gas Intelligence
A 96% jump in wind generation during the latest EIA storage week limited natural gas-fired power output, which trailed year-ago levels by 10%. The shift moderated bullish demand signals and pointed to a near-average inventory build.
Read → Global Nat Gas & LNG
What's moving · TTF surges 5%+ to €49.31/MWh on renewed Middle East tanker attacks and heat-driven demand.
Nigeria UTM wins 15-year gas deal for $3B FLNG project.Isaac Anyaogu · Reuters
Nigeria's UTM Offshore secured a 15-year gas supply agreement with a joint venture between NNPC Ltd and Seplat Energy, supplying 200 million standard cubic feet per day from the Yoho field. This removes a major obstacle to final investment decision on its $3 billion floating LNG project designed to produce 1.8 million tonnes per year. The FID is now expected in the fourth quarter after previous delays.
Read → Inpex inks 15-year deal for 1 Mt/year from ADNOC Ruwais LNG.Bloomberg
Japan’s Inpex Corp signed a 15-year deal with Abu Dhabi National Oil Co. to buy about 1 million tons per year of LNG from the Ruwais LNG project scheduled to start operations in 2028. The long-term contract secures supply for Japanese buyers amid ongoing global market volatility from Middle East disruptions.
Read → US Nat Gas
What's moving · Futures edge higher on lower production, rising LNG flows and hotter late-July outlook.
Futures rise on hotter late-July outlook, lower output and LNG demand.Chris Newman · Natural Gas Intelligence
Front-month natural gas futures moved higher early Monday. A hotter late-July weather outlook, Lower 48 production slipping below recent peaks and steady LNG feedgas flows provided support, offsetting cooler near-term models. The gains reflect seasonal demand risks persisting into mid-month.
Read → Futures hold 50-day support on firm cash prices and seasonal strength.Chris Newman · Natural Gas Intelligence
August futures bounced between technical levels early Monday. Firm Henry Hub cash prices and lingering seasonal demand kept the contract above the 50-day moving average despite a recent hefty storage build. Support is expected to fade by mid-July as weather moderates.
Read → NGI sees 55 Bcf build for week ending July 3 amid heat wave.Leticia Gonzales · Natural Gas Intelligence
NGI projects a 55 Bcf storage injection for the week ending July 3, slightly above the five-year average. Intense heat across the eastern U.S. boosted cooling demand but rising wind generation and holiday timing tempered the build. Lower 48 production fell about 2.6 Bcf week-over-week.
Read → WoodMac sees Henry Hub rising toward $5/MMBtu by 2035.Wood Mackenzie
Wood Mackenzie forecasts the end of the decade-long $2-4/MMBtu Henry Hub range. Surging LNG export capacity and AI-driven power demand will lift prices toward $5/MMBtu real by 2035 as supply growth matures and high-quality acreage constraints emerge.
Read → Global Nat Gas & LNG
What's moving · Qatari LNG tanker Al Rekayyat struck by projectile exiting Strait of Hormuz, lifting TTF 4-5% to €46/MWh overnight.
Qatari LNG tanker hit exiting Hormuz, testing peace deal.Bloomberg
A laden Qatari LNG carrier, Al Rekayyat, owned by Nakilat, was struck by a projectile near the Omani coast while exiting the Strait of Hormuz on July 7. The incident follows prior Middle East disruptions and tests a recent US-Iran peace framework. It immediately pressured European benchmarks higher as supply risks resurfaced.
Read → QatarEnergy halves 2026 LNG deliveries to Bangladesh.Reuters
QatarEnergy cut its 2026 LNG delivery schedule to Bangladesh by half due to ongoing Strait of Hormuz disruptions from the Iran conflict. Petrobangla is seeking alternatives. The move highlights persistent supply constraints affecting Asian buyers and potential cargo availability for Europe.
Read → Global LNG trade hit record in 2025, conflict clouds 2026.Reuters
The International Gas Union reported record global LNG trade in 2025, supported by strong US exports and European imports. Middle East tensions and Hormuz issues now threaten 2026 volumes. This underscores vulnerability in the Atlantic-Pacific arbitrage and spot cargo flows.
Read → US Nat Gas
What's moving · Henry Hub futures hold near $3.22/MMBtu as ample storage and strong supply offset summer heat-driven power burn.
Storage surplus widens, pressuring natgas bullsKevin Dobbs · Natural Gas Intelligence
EIA reported an 87 Bcf storage injection for the week ended June 26, exceeding expectations and widening the surplus above five-year averages. Traders viewed ample Lower 48 supply as sufficient for summer needs, weighing on futures despite heat-supported power burn.
Read → Cash prices retreat despite heat domeKevin Dobbs · Natural Gas Intelligence
Physical natural gas prices pulled back Thursday as participants focused on moderating temperatures ahead and elevated supply levels. Blistering near-term heat supported power generation but failed to lift cash prices amid the broader supply picture.
Read → Global Nat Gas & LNG
What's moving · TTF slips to €44.7/MWh on weak EU storage injections and US LNG diversions to Asia amid JKM premium.
India ends gas curbs after Middle East LNG flows resumeReuters
India lifted most emergency natural gas supply regulations after LNG shipments through the Strait of Hormuz resumed following a ceasefire. The move eases prior curbs imposed in March during disruptions, potentially supporting Asian spot demand and JKM. Resumed Middle East flows could ease global tightness but compete with European needs for cargoes.
Read → Europe risks 15-year low winter gas stocks amid slow refillFinancial Times
EU storage refill lags, with analysts warning stocks could end the season at only 76% full, the lowest in 15 years. Slow injections stem from constrained LNG supply and a backwardated forward curve that discourages buying. Low inventories heighten winter price-spike risks for TTF despite recent geopolitical easing.
Read → EU gas falls to 44.71 EUR/MWh amid storage concernsTrading Economics
Dutch TTF benchmark dropped to 44.71 EUR/MWh on July 6, down 1.38% from the prior day, as sluggish storage injections persist. Prices hit a three-week high earlier on refill worries before easing. Weak pace of European storage builds and limited Norwegian flows keep upward pressure on the hub.
Read → US Nat Gas
What's moving · EIA's 87 Bcf storage injection exceeds expectations, pressuring US natural gas futures lower amid ample supply.
EIA 87 Bcf injection tops forecasts, futures fallChris Newman · Natural Gas Intelligence
The EIA reported an 87 Bcf net injection into US storage for the week ended June 26, above market expectations of around 81-83 Bcf. This larger-than-anticipated build signals robust supply relative to summer demand and immediately weighed on NYMEX natural gas futures. Elevated inventories support bearish near-term price pressure despite ongoing heat-driven power burn.
Read → WoodMac sees structurally higher Henry Hub prices aheadAndrew Baker · Natural Gas Intelligence
A new Wood Mackenzie report forecasts the end of the cheap US natural gas era, with Henry Hub prices rising structurally due to rapid LNG export growth, AI-driven power demand, and declining productivity in key basins like Marcellus, Haynesville, and Permian. Producers face higher development costs on remaining acreage, tightening the supply response over the next decade.
Read → Mexico US pipeline imports hit record 8.35 Bcf/d in JuneNatural Gas Intelligence
NGI data show US pipeline exports to Mexico averaged a record 8.35 Bcf/d in June. Strong cross-border flows add to domestic demand alongside LNG feedgas and power burn, supporting prices even as storage builds.
Read → Williams cuts Transco southbound flows 0.5 Bcf/d this summerNatural Gas Intelligence
Williams will reduce southbound capacity on its Transco pipeline by about 0.5 Bcf/d for most of the summer during expansion work. The move tightens Southeast deliveries precisely when cooling demand peaks, potentially lifting regional basis and spot prices.
Read → Global Nat Gas & LNG
What's moving · TTF slips to 44 EUR/MWh on July 3 amid easing Hormuz risks and low EU storage at 49% full; JKM holds near 16 USD/MMBtu.
Qatar LNG shipments via Hormuz slow again, pressuring Asia and Europe buyers.Stephen Stapczynski · Bloomberg
Bloomberg reports an abrupt slowdown in Qatar LNG tanker crossings through the Strait of Hormuz despite some oil traffic resuming. Fewer shipments keep supply tight for Asian and European buyers reliant on Qatari volumes. This sustains upward pressure on JKM and TTF benchmarks amid ongoing regional risks.
Read → JKM rises to 16.08 USD/MMBtu on July 2 amid tight supply.Trading Economics
JKM edged up 0.34% to 16.08 USD/MMBtu on July 2. Persistent limits on Qatari exports via Hormuz and steady Northeast Asian demand underpin the benchmark. The move narrows but does not erase the TTF-JKM spread dynamics for spot cargoes.
Read → TTF Aug contract trades near 43.7-44 EUR/MWh on July 2.ICE
ICE data shows Dutch TTF Aug 2026 futures around 43.7 EUR/MWh with modest volume. Low EU storage levels and variable LNG send-out into northwest Europe influence pricing. Milder weather demand provides some offset as markets monitor Norwegian flows and any residual pipeline supply.
Read → US Nat Gas
What's moving · Henry Hub futures ease to $3.20/MMBtu on larger-than-expected storage build expectations amid steady LNG flows and shifting heat.
Natgas futures cede ground on heat dome and steady supply.Kevin Dobbs · Natural Gas Intelligence
US natural gas futures eased Wednesday as traders weighed a sprawling Lower 48 heat dome against stable production and LNG feedgas. Spot cash prices rose in the Northeast on power-burn demand, but futures lost ground on expectations of comfortable storage. The moves highlight how summer heat supports near-term demand while ample supply caps price upside.
Read → Northeast spot prices rise on record power generation demand.Kevin Dobbs · Natural Gas Intelligence
Next-day natural gas cash prices advanced midweek, led by the Northeast amid the hottest Lower 48 conditions of 2026 so far. Power generation needs drove buying as utilities stocked supply for air-conditioning loads. Regional basis strengthened in key demand areas while futures remained under pressure from broader supply fundamentals.
Read → Europe share of US LNG exports falls below 42% in June.Curtis Williams · Reuters
Europe took just under 42% of US LNG exports in June, the lowest share in nearly two years, as Asia prices pulled cargoes away and Egypt set a record import month. Total US shipments redirected toward higher-paying Asian and African buyers amid wider price spreads. The shift underscores how global arbitrage continues to shape US export flows and domestic feedgas demand.
Read → PJM warns of record power demand and price spikes this summer.Reuters
PJM Interconnection flagged potential price spikes and record electricity demand this summer tied to heat and data-center growth. The grid operator highlighted risks to reliability and costs from surging loads. Elevated power-burn demand would support natural gas consumption in the key eastern market.
Read → Global Nat Gas & LNG
What's moving · TTF at 43 EUR/MWh and JKM at 16 USD/MMBtu as US LNG cargoes divert to Asia amid JKM premium over TTF.
Platts launches US Gulf Coast LNG marker forward curveS&P Global
S&P Global Platts launched daily assessments for US Gulf Coast Marker LNG derivatives and additional inter-regional LNG derivative products. The new benchmarks enhance price discovery and risk management for US-sourced LNG flows that increasingly arbitrage between TTF and JKM. This supports better tracking of Atlantic-basin cargo diversions affecting both European and Asian hubs.
Read → EU LNG imports fall 18% YOY in June amid wartime strainsS&P Global
EU LNG imports declined 18% year-on-year in June due to ongoing Middle East supply constraints from the Iran conflict. Reduced inflows ease immediate storage injection pressure on TTF while highlighting competition from Asian buyers. The drop aligns with lower northwest Europe LNG send-out and supports the observed TTF-JKM spread dynamics.
Read → US Nat Gas
What's moving · Heat dome over central/eastern US lifts near-term power-burn demand, lifting Henry Hub prices despite storage surplus.
Heat dome tightens near-term natgas demand outlook.Jodi Shafto · Natural Gas Intelligence
A heat dome over the central and eastern US is boosting cooling demand and power-burn expectations through early July, the strongest tightening signal this summer per real-time indicators. LNG export flows to Europe and Asia add pull. Storage data still shows comfortable inventories, but spot and cash markets are confirming the demand surge.
Read → EIA storage injection seen at 83 Bcf, expanding surplus.Patrick Rau · Natural Gas Intelligence
NGI projects an 83 Bcf injection for the week ended June 26, up 7 Bcf week-over-week and above the five-year average of 64 Bcf. This would shrink the year/year deficit to 27 Bcf while lifting the surplus versus the five-year benchmark to a 2026 high of 171 Bcf. Lower-48 power demand fell 1.7 Bcf/d last week amid cooler conditions.
Read → FERC approves NGPL Texas-Louisiana expansion phase.Chris Newman · Natural Gas Intelligence
FERC cleared the second phase of NGPL's Texas-Louisiana Expansion Project, adding eastbound capacity on a constrained East Texas-Louisiana link. The move targets 300,000 Dth/d incremental service with a July 1, 2026 target in-service. It eases flows of Texas gas toward Henry Hub amid strong export and power demand.
Read → Natgas prices climb on heat-driven power demand.Trading Economics
US natural gas prices rose over 3% to near $3.30/MMBtu on increased LNG plant flows and record power-demand forecasts from a severe heat wave. NYC temperatures may hit 100°F, with above-normal heat expected through mid-July. Lower-48 production averaged 110 Bcf/d in June while LNG feedgas flows hit 17.4 Bcf/d.
Read → Global Nat Gas & LNG
What's moving · TTF holds near €43.50/MWh amid low EU storage (47%) and Hormuz supply risks; JKM at $16/MMBtu on Asian demand.
Shell: Hormuz risks flat or lower 2026 LNG tradeReuters
Shell’s LNG Outlook 2026 projects global LNG trade flat at 422 million tonnes in 2026 if Strait of Hormuz flows normalize by summer, or a rare contraction if disruptions persist. The war has already cut 20% of exports; U.S. volumes rose while Qatar’s fell sharply. Long-term demand still seen up 65% by 2050, led by Asia.
Read → US Nat Gas
What's moving · US natgas prices hold near 3-week lows on record output and milder weather forecasts.
Golden Pass LNG offline as feedgas intake nears zero.Reuters
Golden Pass LNG in Texas has taken little to no natural gas for three days and appears offline during commissioning of its first train. The QatarEnergy-ExxonMobil facility is expected to handle up to 2.6 bcfd when fully operational. Reduced feedgas demand frees US supply, pressuring domestic prices.
Read → Russian-flagged tanker loads cargo from Arctic LNG 2.Reuters
Arctic Express, a newly Russian-flagged tanker, loaded LNG from a floating storage facility linked to the US-sanctioned Arctic LNG 2 project on June 28. Russia continues Arctic LNG 2 operations with China as main buyer despite sanctions. The development has limited direct impact on US Henry Hub pricing.
Read → Shell forecasts flat global LNG supply in 2026.Bloomberg
Shell expects global LNG supply to be flat year-on-year due to Middle East conflict disrupting flows through the Strait of Hormuz. The forecast assumes Hormuz reopens this summer; prolonged closure could cause a rare annual contraction. US LNG exports face indirect effects from global supply constraints.
Read → US natgas prices hold near 3-week low on record output.Reuters
US natural gas prices remain near three-week lows amid record production levels and forecasts for milder weather reducing cooling demand. Lower power-burn expectations and ample supply weigh on the complex. The move reflects near-term bearish fundamentals for Henry Hub.
Read → Global Nat Gas & LNG
What's moving · TTF and JKM climb as Hormuz vessel traffic slows after renewed US-Iran fighting, tightening LNG supply.
Hormuz crossings slow, lifting TTF and JKM pricesJamison Cocklin · Natural Gas Intelligence
Global natural gas prices climbed Monday as vessel traffic through the Strait of Hormuz slowed significantly after renewed fighting between the United States and Iran. TTF and JKM benchmarks rose, with Asia outbidding Europe for cargoes amid the supply crunch. The moves reflect heightened geopolitical risks to roughly 20% of global LNG flows.
Read → Shell: prolonged Hormuz disruption could cut 2026 LNG supplyJoe Stonor and Adam Whittaker · Wall Street Journal
Shell said Tuesday in its annual LNG report that global physical LNG cargoes sold this year could stay flat at 422 million metric tons if Hormuz disruptions persist. Prior expectations were for significant growth; the outlook assumes a summer return to normal shipping. Prolonged issues would tighten supply for Europe and Asia benchmarks.
Read → Shell LNG Outlook: demand up 65% by 2050, flat 2026 tradeReuters
Shell's 2026 LNG Outlook forecasts global demand rising about 65% by 2050 to nearly 700 million metric tons annually, led by Asia. Trade is seen flat in 2026 at 2025 levels due to Middle East supply constraints before growth resumes in 2027. South and Southeast Asia are projected to account for around 40% of imports by 2050.
Read → US Nat Gas
What's moving · LNG export flows and Southern heat lift Henry Hub toward $3.35 as storage stays ample.
Mexico-bound US gas flows hit new high as ECA LNG ramps up.Christopher Lenton · Natural Gas Intelligence
June is shaping up to be the strongest month on record for US natural gas exports to Mexico. Sempra Infrastructure’s Energía Costa Azul (ECA) LNG export terminal is ramping up and driving westbound demand. This supports higher pipeline flows out of US basins toward Gulf Coast LNG and Mexico.
Read → South Central storage nears deficit on heat and LNG demand.Kevin Dobbs · Natural Gas Intelligence
Natural gas stored in the South Central region is on the cusp of deficit territory. Southern heat intensifies and LNG demand strengthens, pressuring regional inventories even as total Lower 48 storage remains ample above the five-year average.
Read → FERC clears MVP Southgate NC leg amid demand signals.Chris Newman · Natural Gas Intelligence
Mountain Valley Pipeline received federal approval to start building the North Carolina leg of its Southgate Amendment Project. The extension adds 500 MMcf/d capacity into the Southeast, clearing the final regulatory hurdle and responding to widening Transco Zone 5 South premiums signaling demand.
Read → Global Nat Gas & LNG
What's moving · TTF rose to €41.5/MWh on Middle East supply concerns amid low EU storage and weak Norwegian flows.
EU gas prices rise on Middle East flare-up.Trading Economics
European natural gas prices rose to €41.7 per MWh on Monday, extending Friday's gains as the latest flare-up in the Middle East reignited supply concerns. Dutch TTF is the leading European benchmark. The move reflects ongoing geopolitical risks to global LNG flows into northwest Europe.
Read → TTF futures climb 1.6% to 41.435 EUR/MWh.Barchart
Dutch TTF Gas Jul '26 futures traded at 41.435 EUR/MWh, up 0.653 or +1.60%. The benchmark rose amid persistent supply concerns from the Middle East and European storage dynamics. Low injection pace and limited Norwegian pipeline flows support the upside.
Read → JKM and TTF ease amid milder conditions.Global LNG Hub
JKM and TTF eased while Henry Hub rose on summer demand expectations and storage data. EU-wide underground gas storage was 39.7% on May 29, up from the prior week but down sharply year-on-year. Milder weather and stable supply fundamentals weighed on benchmarks.
Read → US Nat Gas
What's moving · Heat forecasts reverse futures higher after 76 Bcf EIA storage build exceeds expectations.
Futures rebound after storage selloff on heat forecastsJodi Shafto · Natural Gas Intelligence
Natural gas futures rebounded Thursday after an early sell-off from the larger-than-expected storage injection. Traders refocused on forecasts for widespread heat next week, lifting July and August contracts.
Read → 76 Bcf injection exceeds consensus, triggering selloffAndrew Baker · Natural Gas Intelligence
EIA reported a 76 Bcf net injection for the week ended June 19, above consensus estimates. Working gas reached 2,835 Bcf, remaining above the five-year average but sending futures lower initially.
Read → Gulf Coast cash prices rise on LNG and heat demandJodi Shafto · Natural Gas Intelligence
Cash prices strengthened Thursday with gains at Gulf Coast hubs driven by LNG export demand and Southern heat. Western cooling eased some pressure while Henry Hub cash topped $3.28.
Read → EIA confirms 76 Bcf weekly build to 2,835 Bcf totalIndexBox
Lower 48 working gas inventories rose 76 Bcf to 2,835 Bcf for the week ending June 19. Stocks sit 152 Bcf above the five-year average and 49 Bcf below year-ago levels, with East and Midwest leading builds.
Read → Global Nat Gas & LNG
What's moving · TTF edges higher to 41 EUR/MWh on Hormuz attack fears and slow EU storage injections.
TTF rises on Hormuz ship attack, storage worriesBloomberg
European benchmark TTF futures rose as much as 1.6% after an attack on a cargo ship in the Strait of Hormuz renewed transit fears. Prices trade in a narrow weekly range but sit over 25% above pre-war levels due to slow storage refill ahead of winter.
Read → EU storage at 46% on June 23, 10.6 bcm below last yearEnergy Aspects
EU gas storage stood at 50 bcm or 46% of capacity on June 23, down 10.6 bcm year-on-year and 15 bcm below the five-year average. Slow summer injections from tight LNG markets and a backwardated curve point to end-October fill of only 75-78%.
Read → JKM drops 1.06% to 15.39 USD/MMBTUTrading Economics
The Platts JKM benchmark fell 1.06% to 15.39 USD/MMBTU on June 25. The move tracks softer Asian spot demand and cargo flows amid the TTF-JKM arb and ongoing Middle East shipping constraints.
Read → US Nat Gas
What's moving · Natgas futures climb 2%+ to $3.29 as hotter forecasts lift power-burn demand ahead of storage data.
Heat-wave forecasts lift natgas futures middayKevin Dobbs · Natural Gas Intelligence
July NYMEX futures rose 4.5 cents to $3.229/MMBtu at midday on stronger cooling demand from pending heat waves across the mid-Atlantic and Upper Midwest. Traders also noted firm LNG feedgas flows and Henry Hub spot prices edging higher amid the demand outlook shift.
Read → Northeast and Permian basis swings sharplyAndrew Baker · Natural Gas Intelligence
Forward basis in the US Northeast plunged while Waha (Permian) surged over recent weeks due to weather shifts, infrastructure additions, and geopolitical factors affecting LNG-linked demand. These regional moves highlight diverging supply-demand balances between Appalachia and Permian basins.
Read → Power burn eases as coal, nuclear riseChris Newman · Natural Gas Intelligence
Gas-fired generation declined from recent peaks during the latest EIA storage week while coal and nuclear output hit post-winter highs to meet rising summer loads. The shift underscores competition among fuel sources even as overall power demand grows.
Read → New Permian processing plant advancesJamison Cocklin · Natural Gas Intelligence
Trace Midstream announced a 250 MMcf/d gas processing plant in Southeast New Mexico, adding to multiple Permian takeaway projects slated for 2026. The expansion aims to relieve chronic basin constraints and support higher associated gas production.
Read → Global Nat Gas & LNG
What's moving · TTF at €41/MWh as Asian buyers rebound, tightening LNG competition for Europe's storage injections.
Jera CEO: Spot LNG prices sticky on supply woes, low Europe stocks.S&P Global
Jera Global CEO Yukio Kani said spot LNG prices will likely stay sticky at relatively high levels due to Middle East supply disruptions and low European gas storage. Platts assessed August JKM at $15.521/MMBtu. This sustains upward pressure on TTF amid competition for cargoes.
Read → Asian LNG imports rebound over 10% in first half of June.Global LNG Hub
Asia's LNG imports surged more than 10% year-over-year in the first half of June after earlier declines, led by India and other markets. Stronger summer cooling demand and a $2/MMBtu JKM premium over TTF drew flexible cargoes east. This risks cutting LNG inflows to Europe and slowing storage injections.
Read → TTF futures at €40-42/MWh in second half of June.GMK Center
TTF futures for the following month fluctuated between €40 and €42 per MWh through the second half of June. Prices eased from earlier levels but stayed supported by storage refill needs and LNG competition. Current levels reflect balanced but tight fundamentals heading into peak injection season.
Read → US Nat Gas
What's moving · Henry Hub futures dip on cooler weather forecasts trimming power-burn demand amid ample storage.
US natgas futures fall on cooler weather and lower LNG flows.Bloomberg
US natural gas futures declined Monday as forecasts shifted cooler in coming weeks, reducing expected gas-fired power demand for air conditioning. Kinder Morgan’s Gulf Coast Express pipeline expansion entered service, easing Permian oversupply by moving more gas out of the basin. Lower LNG feedgas flows from maintenance also added domestic supply pressure.
Read → Natgas futures fall despite building heat risk.Jodi Shafto · Natural Gas Intelligence
July NYMEX natural gas futures fell Tuesday on cooler weather forecasts that trimmed cooling degree days and power sector demand outlooks. Strong Lower 48 production and expectations for adequate storage builds weighed on sentiment even as heat risk builds later. NGI forecasts a lean 68 Bcf storage injection for the week ended June 19.
Read → Prices lag despite hotter forecasts ahead.Andrew Baker · Natural Gas Intelligence
Forecasts point to a sizable uptick in cooling demand by the weekend, yet natural gas futures struggled in early Tuesday trading. Ample supply from production and storage expectations offset bullish weather signals. Traders cite well-supplied market conditions limiting price response to summer heat.
Read → Traders buy dip in well-supplied natgas market.Andrew Baker · Natural Gas Intelligence
Bargain buying and supportive overnight forecast trends after Tuesday’s decline pushed natural gas futures modestly higher in early Wednesday trade. NGI predicts a lean storage build and notes July contract expiration Friday. The market remains focused on balancing strong supply against seasonal demand shifts.
Read → Global Nat Gas & LNG
What's moving · Qatar PM signals normal LNG output resume in weeks as Europe eyes winter stock rebuild amid low storage.
Qatar PM: LNG output back to normal within weeks.Reuters
Qatar Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani told the Financial Times that LNG production at facilities damaged in the Iran conflict will return to normal within a few weeks, though one damaged site may lag. The statement follows a ceasefire and progress on reopening the Strait of Hormuz. This eases near-term global supply concerns for the world's top LNG exporter.
Read → JERA: LNG prices firm as Qatar fixes drag, Europe stocks low.Reuters
JERA Chairman Yukio Kani said LNG prices should hold firm over the next year because restoring damaged Qatari facilities will take more than two to three years and Europe must rebuild low inventories ahead of winter. Europe’s need for spot LNG to avoid Russian gas adds support. JERA is Japan’s largest LNG buyer.
Read → US Nat Gas
What's moving · Warmer July forecasts and rising LNG feedgas lift Henry Hub futures on stronger summer demand outlook.
Heat and LNG demand test storage refill paceJodi Shafto · Natural Gas Intelligence
Weather forecasts for hotter early July weather pushed natural gas futures higher Monday. Stronger cooling demand and rising LNG exports signal potentially smaller storage injections. NGI forecasts a 68 Bcf injection for the week ended June 19, down from prior weeks.
Read → Natgas eases to $3.23 after two-week highTrading Economics
US natural gas prices fell to $3.23/MMBtu following a session high driven by higher LNG terminal flows and warmer weather forecasts. Average flows to LNG plants rose to 17.2 bcfd in June from 17.1 bcfd in May as units returned from outages. Lower 48 production held steady at 109.7 bcfd.
Read → Power burn jumps on summer heatChris Newman · Natural Gas Intelligence
Natural gas-fired power generation hit its highest level since Winter Storm Fern amid building summer heat. The surge supports expectations for a near-average EIA storage injection this week. Elevated power burn tightens the supply-demand balance heading into peak cooling season.
Read → Global Nat Gas & LNG
What's moving · Qatar Ras Laffan explosion and Chevron-Microsoft 20-year Texas gas power deal drive global natgas/LNG complex.
Qatar Ras Laffan blast kills 13, injures 66 in restart accidentAl Jazeera
A technical malfunction caused an explosion and fire at the Barzan gas facility in Ras Laffan Industrial City during restart of operations halted by prior Iranian attacks. QatarEnergy and officials stated LNG exports and domestic supply remain unaffected with no sabotage involved. The incident hits the world's largest LNG export hub amid ongoing Middle East supply uncertainty.
Read → Chevron, Microsoft ink 20-year Texas natgas power deal for AI data centerReuters
Chevron signed a 20-year agreement to supply natural-gas fired power via the co-located Project Kilby facility to Microsoft's 2+ GW data center campus in Pecos, West Texas. The plant, using GE Vernova and Caterpillar turbines, targets first power in 2028 and FID by end-2026. It anchors dedicated Permian gas demand for AI-driven electricity needs.
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What's moving · Henry Hub futures jump 3%+ on lighter-than-expected 73 Bcf EIA storage build amid summer heat-driven power burn.
US gas futures rise on moderate EIA storage buildAnthony Harrup · Wall Street Journal
EIA reported a 73 Bcf injection for the week ended June 12, below the 82 Bcf consensus and prior week's 108 Bcf. The lighter build left the storage surplus unchanged at 151 Bcf above the five-year average. Strong cooling demand drove the highest power generation use of the season, tightening the market and lifting NYMEX July futures 2.8% to $3.233/MMBtu.
Read → Bulls own the joint after light 73 Bcf EIA buildAndrew Baker · Natural Gas Intelligence
The 73 Bcf injection for week ended June 12 reflected robust cooling demand and widened South Central and East storage deficits year-over-year. It matched the five-year average but trailed last year's pace, supporting prices despite comfortable overall inventories at 2,759 Bcf.
Read → Global Nat Gas & LNG
What's moving · Qatar Ras Laffan blast and EU Russian LNG trade ban clarification drive global natgas/LNG complex.
Qatar Ras Laffan blast injures 54, 18 missing at Barzan facilityReuters
An operational incident during start-up at the Barzan gas supply facility in Ras Laffan caused an explosion and fire on Sunday evening. QatarEnergy contained the fire with no public safety threat or leak reported, but the site is Qatar's core LNG processing hub supplying pipeline gas and supporting 77 mtpa LNG capacity. The event adds to prior war-related damage that already cut 17% of Qatar's LNG export capacity.
Read → EU bars operators from trading Russian LNG from 2027 even to third countriesReuters
A June 1 letter from the EU Energy Commissioner's office to Poten and Partners states EU operators cannot trade or market Russian LNG regardless of final destination. The clarification resolves ambiguity for holders of long-term contracts including TotalEnergies, Naturgy and SEFE, tightening the 2027 phase-out of Russian gas imports.
Read → Equinor invests $410M to lift Troll gas output from 2028Reuters
Equinor and partners Petoro, Shell, TotalEnergies and ConocoPhillips will spend over NOK 4 billion on the TWIN subsea project adding two wells and a pipeline. The development will deliver around 11 bcm of gas starting in 2028, increasing Norway's daily output by 2-2.5 mcm for the first eight years as Europe's top supplier.
Read → Pakistan takes seventh Qatar LNG cargo amid supply worriesThe News / Energy Update
The MRAIKH carrier arrived at Port Qasim Monday morning with 170,148 cubic metres of LNG from Qatar's Ras Laffan under a long-term contract priced at 13.37% of Brent. It marks Pakistan's seventh cargo since regional tensions escalated in late April, supporting summer demand as the country manages supply risks.
Read → Global Nat Gas & LNG
What's moving · TTF rises over 3% to 41.9 EUR/MWh as European storage refills amid Hormuz reopening signals and easing Middle East risks.
QatarEnergy LNG tanker transits Hormuz post-dealUpstream
A laden QatarEnergy LNG carrier transited the Strait of Hormuz visibly after a US-Iran framework deal, with vessels in ballast returning to the Gulf. This signals potential restart of Qatari exports disrupted since late February, easing global supply concerns and supporting lower price premiums. It directly impacts LNG availability for Europe and Asia as markets monitor resumption timelines.
Read → Hormuz deal won't fix Europe's gas relianceChatham House
A potential Strait of Hormuz reopening via US-Iran agreement will take months for full shipping flows and years for damaged Qatari capacity recovery. Europe remains exposed due to low storage buffers entering refill season and ongoing reliance on expensive, insecure gas imports. The analysis urges demand reduction over supply fixes to address structural vulnerability.
Read → First Indian LNG tanker 'Disha' arrives at DahejArunprakash news / VTV Gujarati
India's LNG carrier 'Disha' docked at Dahej port in Gujarat after safely crossing the Strait of Hormuz, marking the first such arrival post-disruption. The delivery bolsters India's energy security and gas supplies from Qatar amid improving regional logistics. It highlights resuming Asian LNG trade flows following the Hormuz developments.
Read → US Nat Gas
What's moving · LNG feedgas rebound and Waha rally lift US natgas prices and cash hubs amid cooling futures.
Golden Pass LNG feedgas hits record high after lull.Jacob Dick · Natural Gas Intelligence
Feedgas nominations to Golden Pass LNG reached their highest level to date on June 17 following minimal flows earlier in June. Train 1 startup remains uneven while Train 2 ramp-up is expected to further boost demand. The rebound signals improving US LNG export activity that supports domestic gas prices.
Read → Waha surges 96.5 cents, lifting national cash prices.Jodi Shafto · Natural Gas Intelligence
Cash prices rose Wednesday for Thursday flow as Waha rallied 96.5 cents on Southwest supply tightening and Permian pipeline relief. The national average gained 5.5 cents despite Midwest weakness. Regional hubs including Permian and South Texas showed strength from production and flow dynamics.
Read → July futures settle lower on weaker power demand view.Jodi Shafto · Natural Gas Intelligence
July NYMEX futures erased early gains to settle lower Wednesday as near-term power burn forecasts weakened and a near-average storage build is expected. Tropical Storm Arthur added near-term supply concerns while comfortable inventories reinforced a balanced summer outlook.
Read → Power burn hits highest level since Winter Storm Fern.Natural Gas Intelligence
Natural gas-fired power generation rose sharply on June 17 to its highest level since Winter Storm Fern amid building summer heat. The increase supports a potentially near-average EIA storage injection and highlights power-sector demand as a key summer driver despite overall futures pressure.
Read → Global Nat Gas & LNG
What's moving · US-Iran interim deal reopens Strait of Hormuz, sending TTF to €40.6/MWh near two-month low and easing global LNG supply fears.
TTF drops to two-month low on US-Iran deal easing Hormuz risks.Trading Economics
European TTF gas prices fell about 3% to €40.6/MWh on June 18 amid an interim US-Iran agreement that includes reopening the Strait of Hormuz. The deal eases immediate supply disruption risks for Qatari LNG exports. Lower prices reflect reduced geopolitical premiums in European and global gas markets.
Read → JKM slips 0.75% to $15.82/MMBtu as supply outlook improves.Trading Economics
Northeast Asia's JKM benchmark fell 0.75% to $15.82/MMBtu on June 17. The decline tracks easing global supply concerns from the US-Iran de-escalation. Asian spot LNG prices remain 14% higher year-over-year despite the pullback.
Read → US natgas futures end winning streak lower ahead of inventory report.Wall Street Journal
US natural gas futures pulled back in early trading on June 18, snapping a recent winning streak. The market watches for the weekly storage report and the season's first named Atlantic storm. Price action reflects shifting focus from weather-driven demand to inventory data and export risks.
Read → US Nat Gas
What's moving · Henry Hub futures climb on rebounding LNG feedgas flows and summer heat-driven power demand.
Waha natgas prices turn positive after 90 days negativeScott DiSavino · Reuters
Waha spot prices rose to 42 cents per mmBtu Tuesday from negative territory, ending a record 90-day streak of sub-zero prices. Easing pipeline maintenance and rising summer power demand relieved Permian Basin constraints. EIA projects Permian output hitting a record 30.1 bcfd by November.
Read → Natgas futures rise on LNG feedgas and summer demand risksJodi Shafto · Natural Gas Intelligence
July futures advanced as traders priced simultaneous strength in power-sector demand and LNG feedgas later this summer. Cash prices rose at Permian hubs amid Southeast heat premiums. New GCX pipeline flows signal easing Permian supply glut.
Read → US natgas futures gain on rising LNG feedgas flowsWall Street Journal
NYMEX July natgas settled up 2.9% at $3.239/mmBtu on recovering LNG terminal feedgas post-maintenance. Heat in South and West supported prices despite milder eastern weather. Healthy storage and supply cap further gains.
Read → Cash natgas prices rise on Permian recovery and heatNatural Gas Intelligence
Cash prices finished higher with Permian hubs recovering from deep discounts. Persistent heat boosted Southeast and Gulf Coast premiums. New interconnect flows on Kinder Morgan GCX pipeline eased regional supply pressure.
Read → Global Nat Gas & LNG
What's moving · QatarEnergy signals quick LNG restart at Ras Laffan as Hormuz reopens, easing global supply fears and pressuring prices.
QatarEnergy set to resume Ras Laffan LNG output fastMaha El Dahan · Reuters
QatarEnergy is ready to quickly resume LNG production at Ras Laffan and reach full output within a month for unaffected facilities. Damaged trains representing 17% of capacity will take years to repair. Restart depends on safe Hormuz shipping after the US-Iran deal, addressing a key supply disruption from the recent conflict.
Read → Ichthys LNG strike ends with union dealReuters
Unions reached a deal with Inpex to end strikes at Ichthys LNG facilities in Australia. Action had disrupted shipments and shut one production train. Resolution reduces near-term supply risk from this major project supplying Asia.
Read → US Nat Gas
What's moving · US natural gas prices fell toward $3.00/MMBtu on Iran deal easing global supply fears and strong domestic storage.
US natgas prices fall to over 2-week low after storage build.Trading Economics
US natural gas prices fell 2% toward $3.00 per MMBtu, their lowest in nearly three weeks. The drop followed a US-Iran peace deal reopening the Strait of Hormuz and a larger-than-expected 108 Bcf EIA storage injection for the week ending June 5, lifting inventories to 2,686 Bcf. Strong domestic supply and the global supply relief weighed on prices despite potential LNG export recovery.
Read → Oil and natural-gas prices drop after Iran deal.Joe Wallace · Wall Street Journal
US natural gas futures joined oil in retreating after the US and Iran reached a deal that could reopen the Strait of Hormuz. The agreement eases concerns over global LNG and oil flows from the Persian Gulf. Domestic fundamentals including ample storage continued to pressure prices lower.
Read → Global Nat Gas & LNG
What's moving · US-Iran peace deal and Hormuz reopening hopes drive sharp TTF and JKM price drops.
Qatar plans rapid LNG restart post-Hormuz openBloomberg
QatarEnergy told buyers it aims to reach 50% of LNG capacity within one month of safe Hormuz passage and 80% within two months. The world's largest LNG exporter had curtailed output due to the strait closure. Faster recovery would ease global supply constraints and pressure prices lower.
Read → TTF and Asian LNG prices tumble on Hormuz hopesJacob Dick · Natural Gas Intelligence
European TTF and Asian LNG prices fell sharply Monday after news of a US-Iran preliminary peace agreement raised prospects for Strait of Hormuz reopening as soon as June 19. Traders reacted to the potential return of Qatari and other Gulf LNG flows. The move follows elevated prices since the March disruptions.
Read → Japan assesses Ichthys strike LNG supply risksYuka Obayashi · Reuters
Japan's industry minister said the government is monitoring the extended Ichthys strike and its effects on LNG supplies. Japanese utilities buy about 5.7 million tons annually from the 9.3 mtpa project. Officials remain in contact with Inpex and utilities to safeguard energy security.
Read → US Nat Gas
What's moving · Henry Hub near $3.05/MMBtu as 108 Bcf storage build and cooling forecasts weigh on summer demand.
EIA reports 108 Bcf storage build for week ending June 5.EIA
Working gas in storage reached 2,686 Bcf, up 108 Bcf week-over-week and 151 Bcf above the five-year average. The larger-than-expected injection narrows the surplus versus last year to just 5 Bcf and signals ample supply heading into peak summer cooling demand.
Read → Natgas futures slip as cooler June outlook cuts demand.Anthony Harrup · Wall Street Journal
NYMEX natural gas settled around $3.14/MMBtu after modest losses, with traders citing cooler weather forecasts for mid-to-late June that reduce power-sector burn expectations. Strong current-week demand and rising LNG flows provide some support but fail to overcome the bearish weather shift.
Read → Global Nat Gas & LNG
What's moving · TTF falls over 5% to 5-week low near €44/MWh as US-Iran peace deal reopens Hormuz, easing supply fears.
First LNG tanker transits Hormuz post-US-Iran deal; shippers cautious.Reuters
India's Petronet sent the Maltese-flagged LNG tanker Disha through the Strait of Hormuz, the first since the US-Iran peace deal. The vessel, loaded at Qatar's Ras Laffan, heads to India's Dahej terminal. Limited traffic persists as shippers await mine clearance details before resuming full passages.
Read → Unions extend Inpex Ichthys LNG strikes to July 6.Reuters
Australia's Offshore Alliance will extend strikes at Inpex's Ichthys LNG project until July 6 after the Fair Work Commission rejected Inpex's bid to halt action. The strikes, seeking better pay and conditions, already threaten four LNG cargoes and risk storage limits at the 9.3 mtpa facility.
Read → Tribunal rejects Inpex bid to halt Ichthys LNG strikes.Reuters
Australia's Fair Work Commission rejected Inpex's application to end strikes by 400 workers at its Ichthys LNG project. Inpex warned of potential shutdown risks and delayed cargoes amid ongoing labor disputes over pay and job security.
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