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, Sep 7 to Fri, Oct 2). Open a date for the full issue across every commodity.
US Nat Gas
What's moving · EIA reports 64 Bcf storage build to 3,415 Bcf, 2.4% above five-year average, as LNG feedgas holds near record levels.
US natgas futures little changed pre-storage reportReuters
US natural gas futures for November delivery held near $3.02/MMBtu on Thursday as traders awaited the EIA storage report. Analysts expected a 64 Bcf injection for the week ended Sept. 25, above the 56 Bcf year-ago build but below the 80 Bcf five-year average. LNG feedgas flows averaged 17.9 Bcf/d in September, up from 17.2 Bcf/d in August.
Read → EIA: US natgas storage rises 64 Bcf to 3,415 BcfChris Raine · Energy Intelligence
The EIA reported a 64 Bcf storage build for the week ended Sept. 25, lifting Lower 48 working gas to 3,415 Bcf. Inventories sit 138 Bcf below year-ago levels but 79 Bcf above the five-year average. The build supports a balanced physical market heading into fall with production and LNG demand both elevated.
Read → New East Texas storage expansion quickly absorbedChris Newman · Natural Gas Intelligence
Trinity Gas Storage brought its 13 Bcf Phase II expansion online in East Texas, raising working gas capacity to 37 Bcf. Power and data-center demand around the facility has quickly absorbed the added capacity. Peak withdrawals from the site now reach about 1 Bcf/d.
Read → Global Nat Gas & LNG
What's moving · TTF falls 3% to €71-73/MWh as EU storage hits 71.5% (below norm) with Norway signaling full winter readiness and mild weather easing demand.
EU storage at 71.5% full, lowest for late September since 2011Multiple trackers (GIE AGSI+ via EnergyRiskIQ / gas-risiko.de)
EU underground gas storage reached 71.5% full (809 TWh) as of late September, 15-16 points below the five-year average and the lowest for the date in records since 2011, with Germany at 58%. Injection pace is running slightly behind the relaxed 80% November target; low stocks increase reliance on LNG imports and Norwegian flows, supporting TTF prices despite mild weather.
Read → Europe LNG imports rising as Hormuz disruptions persistBloomberg
European LNG deliveries are increasing ahead of winter per ship-tracking data, offsetting lower Asian imports amid persistent Strait of Hormuz issues that have cut Qatari and other Gulf flows. This diverts cargoes to Europe (TTF benchmark), tightening the TTF-JKM arb spread and supporting European hub prices as storage refill lags.
Read → EU takes 89% of Yamal LNG exports in first 8 months 2026Urgewald / Kpler analysis (via World Ports Org)
EU ports received 156 Yamal cargoes (11.39 Mt) in Jan-Aug 2026, up 10% YoY, capturing 89% of exports (vs 78% prior year) worth €7.28 bn already exceeding full-year 2025 spend. This adds Russian Arctic LNG supply into northwest Europe terminals, providing marginal relief to TTF amid low storage and LNG competition with Asia.
Read → US Nat Gas
What's moving · LNG feedgas surges to near-record levels, lifting NYMEX November futures 2% to $3.39/MMBtu.
US natgas futures rise 2% on record LNG flows.World Energy News
NYMEX November futures climbed 6.7 cents or 2% to $3.391/MMBtu amid average LNG feedgas flows rising to 16.2 bcfd so far in October, up from 15.7 bcfd in September. Flows to Venture Global’s Plaquemines plant hit a record 3.6 bcfd on Sunday. LSEG data showed Lower 48 output easing to 106.5 bcfd in early October while storage sits about 5% above normal.
Read → Natgas futures steady near $3 on steady demand outlook.Reuters via Business Recorder
November futures fell 0.9 cents or 0.3% to $3.002/MMBtu on forecasts for steady demand through mid-October despite Mountaineer XPress returning to service. LNG feedgas averaged 17.9 bcfd in September, up from 17.2 bcfd in August, even with Cove Point maintenance. LSEG sees demand rising to 105.3 bcfd next week as weather turns cooler.
Read → Henry Hub closes at $2.97/MMBtu, down 1.85%.World Oil Monitor
Henry Hub spot and front-month futures settled around $2.96, $2.97/MMBtu on October 1, down roughly 2% on the day. The move follows mixed storage expectations and ample production near 112 bcfd in September. LNG exports remain the key demand support amid seasonal shoulder-period weakness.
Read → US natgas falls below $3 on limited demand outlook.Trading Economics
Prices dropped to $2.96/MMBtu on October 1, down over 2% from the prior close. Mild weather forecasts through mid-October limit power-burn upside while output stays elevated. September LNG feedgas rose to 17.9 bcfd, providing the main counterbalance to seasonal softening.
Read → Global Nat Gas & LNG
What's moving · TTF edges higher to €72/MWh on low EU storage and Norwegian supply reassurance amid Hormuz LNG cuts.
Norway says gas system ready for high winter Europe demandReuters
Norway's Gassco said its pipeline and processing system is fully prepared for peak winter deliveries to Europe after completing September maintenance. Norway supplies 30% of EU+UK gas needs; 2026 deliveries so far are 86.2 bcm, up 2.1 bcm YoY. The statement supports TTF as Europe enters the gas year with storage well below average.
Read → European gas prices edge up on TTF after warmer forecast reversalHellenic Shipping News Worldwide
Dutch TTF front-month rose 0.30 euros to €28.05/MWh (earlier session data showed levels near €72/MWh in Nov contract) as weather forecasts revised higher for next week but power-sector demand is seen rising 603 GWh/d with lower wind. Norwegian flows are higher post-Karsto outage end; LNG send-out to NW Europe expected to rise. Prices had fallen on prior milder outlook.
Read → Asian LNG prices hit highest since 2022 on winter demand and tensionsPriya Anika Rajan · World Ports Organization
Northeast Asia spot LNG prices reached $26/MMBtu for October delivery amid Middle East shipping attacks limiting Persian Gulf outflows and strong winter procurement. Bangladesh and South Korea led recent spot buying; Kogas took 14-20 cargoes for Nov-Jan. JKM remains supported by TTF strength and limited discretionary Chinese buying, tightening the arb with Europe.
Read → US Nat Gas
What's moving · Henry Hub November futures slip to $3.05 as Mountaineer XPress outage ends and Appalachian supply returns.
Henry Hub at $3.05 slips as pipeline outage ends.Itai Smidt · TradingNEWS
November Henry Hub futures traded at $3.05/MMBtu, down 1.82% and marking a third straight decline after the Mountaineer XPress force majeure was lifted Sunday following a three-day outage. Storage stood at 3,351 Bcf after a 53 Bcf injection, 2.9% above the five-year average; LNG feedgas averaged 18.0 bcfd in September versus 17.3 bcfd in August despite Cove Point maintenance. Production near 112.5 bcfd but declining in West Virginia and Texas as the storage surplus narrows.
Read → US natgas prices fall to $3.10 as pipeline fix nears.Judith Sib-at · Trading Economics
US natural gas prices fell for a second session to $3.10/MMBtu on Monday awaiting updates on the Mountaineer XPress pipeline outage. TC Energy’s Columbia Gas Transmission reported crews working to resolve the mechanical issue that disrupted 1.4-1.8 bcfd; LNG feedgas averaged 17.9 bcfd in September, up from 17.2 bcfd in August. Hot weather is drawing down the storage surplus built from strong production and mild spring conditions while daily output declines in West Virginia and Texas.
Read → US natgas futures slide 2% on lower demand outlook.Reuters
US natural gas futures slid 2% on Tuesday to $3.043/MMBtu for November delivery on forecasts for less demand this week and expectations that output will rise after the Mountaineer XPress pipeline returned to service. LSEG data showed Lower 48 output easing to 112.2 bcfd monthly average but averaging only 109.4 bcfd over the past week; meteorologists forecast near-normal temperatures through October 14, limiting heating and cooling demand.
Read → Global Nat Gas & LNG
What's moving · TTF falls 5-6% to €69/MWh as JKM slips to $25.43/MMBtu on easing geopolitics and mild weather; EU storage at 71% limits buying.
JKM at $25.04, TTF near $23.70 as spreads narrowLNG Price Index
Front-month JKM eased 1.34% to $25.04/MMBtu and TTF fell 1.41% to $23.70/MMBtu equivalent. The JKM-TTF spread held near +$1.34/MMBtu, keeping the Pacific diversion window marginally open amid stable Atlantic supply. These moves reflect softening spot demand signals after prior geopolitical spikes.
Read → US Nat Gas
What's moving · October Henry Hub futures fell 3% to $3.10 as Mountaineer XPress pipeline flows resumed after force majeure lift.
US natgas futures fall 3% as WV pipe returnsReuters
TC Energy’s Columbia Gas lifted the force majeure on the Mountaineer XPress pipeline Sunday after a mechanical issue was resolved, restoring flows from the Marcellus/Utica region. October futures on NYMEX fell 10.1 cents or 3.2% to $3.095/MMBtu on the last day as the front month. Spot prices in the Northeast dropped below $1/MMBtu, the lowest since 2020-2023, amid a powerful nor’easter storm slashing weekend demand.
Read → Henry Hub slips 2.65% to $3.11 as surplus narrowsItai Smidt · TradingNEWS
US working gas storage reached 3,351 Bcf after a 53 Bcf injection for the week ended Sep 18, leaving the surplus over the five-year average at 95 Bcf, down from 118 Bcf. LNG feedgas flows averaged a record 17.8 Bcf/d in September, up from 17.2 Bcf/d in August. September Lower 48 output averaged near-record 112.8 Bcf/d even as daily production has declined recently.
Read → Weather offsets high rollover on NATGASXTB
US natural gas trades around $3.12/MMBtu after the recent contract rollover and resolution of the Mountaineer Xpress outage. Record September production near 112.5 Bcf/d and EIA forecasts for end-October storage at 3,985 Bcf (5% above average) weigh on prices. LNG export flows reached 19.0 Bcf/d Monday despite Cove Point maintenance, providing counter-support.
Read → Global Nat Gas & LNG
What's moving · Qatar extends LNG force majeure to Dec for Edison, Nov for Asian buyers as Hormuz stays disrupted, sustaining TTF-JKM tightness.
Qatar extends LNG force majeure through Nov/Dec amid Hormuz blockBloomberg
QatarEnergy notified buyers including Italy’s Edison (deliveries suspended to early December) and clients in Pakistan, Bangladesh and India (cancellations through November) that force majeure continues due to ongoing Strait of Hormuz disruptions from the US-Iran conflict. Qatar’s LNG exports have fallen 96% since March; six more cargoes cancelled for Edison bring the total to 35. The extension keeps global LNG supply tight into winter, supporting elevated European and Asian benchmarks.
Read → China LNG imports seen down 8% y/y in Sep on high pricesBloomberg
Kpler projects China’s September LNG arrivals at 5.3 million tonnes, down 8% from a year earlier, marking the second consecutive monthly decline as spot prices above $20/MMBtu (peaking near $26) curb spot buying. Major Chinese importers are shifting focus to long-term contracts avoiding Hormuz routes. Reduced Chinese demand eases some pressure on the global spot market but leaves Europe competing harder for remaining Atlantic and alternative cargoes.
Read → Qatar skips Edison deliveries to early Dec; 35 cargoes now cancelledReuters
QatarEnergy extended force majeure, confirming no LNG cargoes to Edison (Italy’s major buyer under a long-term 6.4 bcm/year contract) until early December; six additional cancellations bring the total to 35 since April. Edison has substituted 23 cargoes, mainly with US supply. With winter approaching, European buyers including Germany (storage 57%) must accelerate injections from other sources amid structurally low EU storage (70-71% vs 88% norm).
Read → Some Qatar LNG vessels transit Hormuz; volumes remain minimalReuters
A handful of QatarEnergy-linked LNG carriers (e.g., GasLog Skagen, Al Shamal, Mesaimeer) have recently exited or transited the Strait of Hormuz after weeks inside the Gulf, with some heading to India or China. Volumes are a tiny fraction of pre-war levels (Qatar exported only 18 cargoes through end-August vs 509 a year earlier). Limited resumption signals persistent risk but has not yet eased the broader supply squeeze supporting TTF and JKM.
Read → US Nat Gas
What's moving · Appalachian pipeline outage and slower storage builds lift Henry Hub to 13-week high near $3.20.
EIA storage build narrows surplus, lifts prices to 11-week high.Agna Gabriel · Trading Economics
Energy firms added 53 Bcf to US storage in the week ended Sep 18, below the 76 Bcf five-year average and prior-year 77 Bcf amid hot weather. Lower 48 output fell toward an 11-week low of 108.4 bcfd with drops in Louisiana and West Virginia. LNG feedgas averaged 17.8 bcfd in September, up from 17.2 bcfd in August despite Cove Point maintenance; the tighter balance pushed prices to $3.20/MMBtu, the highest since July 8.
Read → Appalachian pipeline outage and storage data push gas to 13-week high.Energy Intelligence
An unplanned outage on TC Energy’s Columbia Gas Transmission Mountaineer XPress pipeline in West Virginia cut up to 1.8 bcfd of Appalachian flows after a leak at the Saunders Creek Regulator Station. The EIA’s 53 Bcf storage build confirmed a tightening physical balance. October futures jumped 9.1% to $3.297/MMBtu on Thursday, the biggest one-day gain in months.
Read → Pipeline repair hopes erase outage premium, futures fall.Everett Wheeler · Energy Intelligence
Columbia Gas Transmission said crews expect to fix the Mountaineer XPress leak over the weekend, limiting the production impact to about 1.4 bcfd rather than the full 1.8 bcfd initially feared. October futures gave back 10.1 cents to close at $3.196/MMBtu after Thursday’s surge. The episode highlighted short-term Appalachian takeaway vulnerability amid already slowing storage injections.
Read → EIA: 53 Bcf storage build narrows surplus to 95 Bcf.Energy Intelligence
Working gas inventories rose 53 Bcf in the week ended Sep 18 to 3,351 Bcf, leaving the surplus over the five-year average at 95 Bcf, down from 118 Bcf the prior week. Hot weather supported cooling demand while production slipped and LNG flows held firm near 17.8 bcfd. The lighter-than-normal injection reinforced expectations for a tighter balance heading into fall.
Read → Global Nat Gas & LNG
What's moving · TTF rises 2% to €73/MWh on technical support and lower renewables output; JKM holds near $25.80/MMBtu amid Asia-Europe cargo tug-of-war.
Europe faces LNG tug-of-war with Asia as buyers pay upVerity Ratcliffe · Financial Times
Platts JKM traded at $25.29/MMBtu Friday while European deliveries sat at $24.62/MMBtu per Spark Commodities. Price-sensitive Asian buyers including India, Pakistan and Bangladesh are securing cargoes at $25/MMBtu levels unseen in 2022, tightening competition for winter supply as EU storage sits at multi-year lows. The shift marks a fundamental change in global gas market dynamics, supporting both benchmarks via inter-basin arbitrage.
Read → JKM and TTF fell last week as HH roseJOGMEC
JKM fell to low-USD 27s/MMBtu for November delivery from mid-USD 28s the prior week on easing Middle East risk premiums, ample Northeast Asian inventories and subdued shoulder-season demand. TTF (October) settled at USD 26.7/MMBtu after peaking near USD 27.8/MMBtu mid-week on supply concerns before retreating on warmer European weather forecasts, higher Norwegian flows and rising LNG imports; EU storage stood at 69.3%. Henry Hub edged higher on robust LNG feedgas demand.
Read → High LNG spot prices curb Asian imports, aid EuropeWorld Energy News
Kpler data shows Asia LNG arrivals at 20.09 Mt in September, the lowest since 2018, as spot prices near $26/MMBtu deter Chinese and South Asian buyers. Europe captured higher volumes with October arrivals projected at 10.53 Mt. The price surge since Qatari LNG losses has redirected flexible cargoes toward northwest Europe, supporting TTF send-out and storage refill pace.
Read → JKM at $25.81/MMBtu up 0.35% with TTF premiumEnergyRiskIQ
JKM rose 0.35% day-over-day to $25.81/MMBtu while TTF gained 1.98% to €73.31/MWh, narrowing the JKM-TTF spread to $4.32/MMBtu. EU storage at 70.9% (17.1% below seasonal norm) keeps European buyers competitive for Pacific cargoes, sustaining the arb that influences both benchmarks' near-term direction.
Read → US Nat Gas
What's moving · Natgas futures drop on profit-taking after Appalachian pipeline outage and below-average 53 Bcf EIA storage build drove sharp rally.
Natgas futures climb 2.6% to 11-week high on cooler weather, lower output, higheReuters
Front-month October NYMEX futures rose 7.6 cents to $3.041/MMBtu, the highest close since July 8. LSEG data showed daily Lower 48 output falling toward an 11-week low of 109.8 bcfd from September averages near 112.9 bcfd, mainly in Louisiana and Pennsylvania, while flows to nine major LNG plants averaged 18.0 bcfd so far in September despite Cove Point maintenance. The moves reflect tightening near-term supply amid forecasts for cooler weather boosting heating demand.
Read → 53 Bcf EIA storage injection, below norms, lifts futures above $3 to multi-week Kevin Dobbs · Natural Gas Intelligence
EIA reported a 53 Bcf build for the week ended Sept. 18, well below the five-year average of 76 Bcf, shrinking the storage surplus to 2.9% above normal from 3.7%. Combined with lighter production and hints of heating demand, the lean print propelled October futures to their highest levels since July amid short-covering.
Read → TC Energy Columbia Gas Transmission outage strands 1.8 Bcf/d Appalachian supplyEnergy News Beat
TC Energy declared force majeure on its Mountaineer XPress system due to a mechanical issue on Line 100 in West Virginia, cutting the MXPSEG MA42 constraint to zero and affecting 1.8 MMDth/d of firm service starting Sept. 25. The 2.7 Bcf/d Appalachian takeaway line disruption triggered the largest single-day futures gain since January as supply tightened.
Read → Prices fall to $3.17/MMBtu after profit-taking follows 13-week high on West VirgJudith Sib-at · Trading Economics
US natural gas prices eased to around $3.17 per MMBtu on Friday as traders booked profits following the prior session's surge to a 13-week high. The rally had been fueled by the TC Energy Columbia Gas Transmission force majeure in Appalachia and the below-average EIA storage build, with LNG feedgas demand remaining supportive at 17.8 bcfd average flows in September.
Read → Global Nat Gas & LNG
What's moving · TTF falls on warmer European weather forecasts and rising northwest Europe LNG send-out despite 38.5% storage fill.
TTF falls on warmer forecasts, high LNG send-outWorld Energy News
Dutch TTF front-month fell 0.30 euros to 34.76 EUR/MWh amid warmer temperature forecasts curbing demand. Europe's gas storage sits at 38.5% full per Gas Infrastructure Europe while northwest Europe LNG send-out is set to rise 80 GWh/day to 2,179 GWh/d. The move occurs as this week's TTF contract dropped around 14% on ample supply.
Read → JKM, TTF ease as geopolitics de-risk, supply improvesGlobal LNG Hub
JKM fell to low-USD 27s/MMBtu on 18 September from mid-USD 28s the prior week as Middle East risk premiums eased. TTF (October) settled at USD 26.7/MMBtu after initial hedging and injection support gave way to higher LNG imports and wind generation expectations. Northeast Asian inventories and subdued shoulder-season demand limited downside.
Read → US Nat Gas
What's moving · Futures reclaim $3 as Lower 48 output dips below 109 Bcf/d and short covering intensifies ahead of Thursday storage print.
Natgas futures reclaim $3 on output dip, short covering.Chris Newman · Natural Gas Intelligence
Front-month futures added to Tuesday’s surge Wednesday, breaching $3 on production falling below 109 Bcf/d, bargain hunting and short covering ahead of the EIA storage report. The weakest power burn since Labor Day was outweighed by colder overnight forecasts adding heating demand signals. Speculator shorts sit at record levels.
Read → US LNG feedgas at 18.3 Bcf/d; Cove Point maintenance cuts demand.Jacob Dick · Natural Gas Intelligence
Deliveries to US LNG export terminals hit 18.3 Bcf/d Wednesday per NGI Entropic data, with seven-day average at 18.2 Bcf/d after Cove Point LNG annual maintenance removed 0.85 Bcf/d starting Saturday. September month-to-date averaged 18.7 Bcf/d, up from 17.9 Bcf/d in August. US LNG exports totaled 2.54 Mt in the week ended Sunday.
Read → Futures surge above $3 on short covering and output dip.Kevin Dobbs · Natural Gas Intelligence
A dip in production, bargain hunting and short covering powered futures above $3 Wednesday as the market braced for a bullish storage print. Production readings showed output on track for an 11-week low near 109.8 Bcf/d. Traders positioned ahead of Thursday’s EIA report amid signs of tightening balances.
Read → Global Nat Gas & LNG
What's moving · TTF rises 3-4% to €74/MWh on Iran supply-risk headlines amid 70% EU storage; JKM holds $25-26/MMBtu premium.
MET chief urges more long-term LNG deals to hedge soaring European pricesBloomberg
MET Group head warned Europe must secure more long-term LNG contracts as Middle East conflict has cut 20% of global LNG flows and doubled European gas prices this year. Asian buyers are taking more flexible spot cargoes, intensifying winter competition with Europe. The call highlights structural vulnerability in Europe's post-pipeline supply model.
Read → IGU: markets price tight gas supplies into 2027 on Iran disruptionReuters
International Gas Union secretary general said futures curves now embed elevated prices and risks through next summer due to Gulf LNG constraints. Europe is outbidding Asia for cargoes to refill storage while January Russian LNG import ban adds uncertainty. The shift marks a move from expecting post-winter easing to sustained tightness.
Read → TTF jumps up to 4.2% on Iranian President statementssofokleousin.gr / marketnews.gr
Dutch TTF futures rose as much as 4.2% to around €74.67/MWh after Iranian President Pezeshkian statements rejecting surrender to the US while leaving dialogue open. The move reflects ongoing geopolitical premium on European benchmark amid tight storage and winter refill needs.
Read → US Nat Gas
What's moving · Henry Hub futures near $2.84-$2.91 as record 113 bcfd output and milder weather forecasts offset firm LNG flows near 18 bcfd.
US natgas futures near one-week low on record output, milder weather outlookReuters
US natural gas futures for October delivery settled at $2.842/MMBtu on Tuesday, up just 0.2% after closing Monday at a one-week low. Lower 48 output averaged 113.0 bcfd so far in September, above August’s record 112.2 bcfd, while LSEG forecasts demand slipping to 104.1 bcfd next week on milder weather through early October. LNG feedgas flows averaged 18.0 bcfd, up from 17.2 bcfd in August but below April’s high, keeping storage surplus near 3% above the five-year average ahead of Thursday’s EIA report.
Read → Natgas futures steady at $2.91 as LNG flows rise to 18.1 bcfdBOE Report
October futures closed at $2.912/MMBtu, up 0.4% and 3% for the week, as LNG feedgas averaged 18.1 bcfd so far in September versus 17.2 bcfd in August. Output rose to 113.2 bcfd, but hotter weather kept storage surplus shrinking toward 3% above normal for the week ended Sept. 18 ahead of the EIA report. LSEG sees Lower 48 demand including exports at 109.8 bcfd this week before easing.
Read → Global Nat Gas & LNG
What's moving · TTF slips to €71-73/MWh on mild weather, rising storage injections and easing Hormuz risk premium; JKM steady near $26/MMBtu.
TTF holds steady near €42/MWh on Iran deal easingWorld Energy News
Dutch TTF front-month fell to EUR41.95/MWh, lowest since May, after a preliminary US-Iran agreement to end conflict and reopen Strait of Hormuz. Prices dropped 10-15% over three days but retain some risk premium ahead of Friday's Geneva signing. Reduced Hormuz transit risk eases global LNG supply concerns for Europe and Asia.
Read → JKM holds at $26.05/MMBtu with neutral biasOilPriceAPI
JKM LNG benchmark assessed at $26.05 per MMBtu, flat day-over-day. Asian spot demand remains subdued while Europe competes for cargoes amid storage rebuild. JKM-TTF arb spread sits near $5.14/MMBtu, signaling limited immediate diversion pressure between basins.
Read → TTF October futures rise 1.9% to $885/000m3Ground News / RIA
October TTF futures opened at $874 and climbed to $885.4 per thousand cubic metres, up 1.9%. Technical support and slightly tighter near-term balances lifted prices despite broader easing. Move reflects ongoing sensitivity to storage pace and weather-driven demand in northwest Europe.
Read → US Nat Gas
What's moving · Cove Point LNG maintenance outage cuts 0.85 Bcf/d Appalachia feedgas demand, pressuring regional prices to 2-year lows.
Cove Point outage slams Appalachia gas prices to 2-year lows.Chris Newman · Natural Gas Intelligence
Cove Point LNG in Maryland entered annual maintenance Saturday, removing roughly 0.85 Bcf/d of feedgas demand from Appalachia. Six regional hubs traded at their lowest levels since November 2024 amid the outage and mild weekend weather. Producers trimmed output as Tetco M-2 spot fell below $1.50/MMBtu.
Read → Eastern cooldown slashes late-season gas demand amid Appalachia storms.Jacob Dick · Natural Gas Intelligence
A sharp cooldown across the eastern US is cutting natural gas demand for power generation as storms threaten Appalachia. Heat persists across Texas and the Gulf Coast. The weather shift coincides with the Cove Point maintenance reducing regional LNG pull.
Read → Easing heat still tightens storage as EIA sees smaller build.Patrick Rau · Natural Gas Intelligence
NGI projects the EIA report for the week ended Sept. 21 will show a 56 Bcf injection, below the 76 Bcf five-year average. Production held flat near 112 Bcf/d while power deliveries slipped 0.3 Bcf/d to 44.0 Bcf/d. The smaller build widens the year-over-year storage deficit ahead of winter.
Read → Natgas holds near $3 as LNG demand counters high supply.Anton Kharitonov · Traders Union
Henry Hub traded around $2.97/MMBtu on Sept. 21 after recovering from August lows. The latest EIA storage report showed a below-consensus 44 Bcf build for the prior week. Cove Point maintenance is expected to trim feedgas demand by around 0.9 Bcf/d for three weeks.
Read → Global Nat Gas & LNG
What's moving · TTF falls 7%+ overnight to €73.7/MWh on warmer weather forecasts and lower storage injection pace; JKM slips 5.5% to $25.99/MMBtu.
TTF drops 7.4% to €73.65/MWh on Amsterdam marketnotizie.it / ANSA
Dutch TTF front-month futures fell sharply 7.4% to €73.65/MWh amid new diplomatic developments and higher oil flows through the Strait of Hormuz. The move followed a prior session close near €79-80/MWh and reflects easing immediate supply concerns alongside ongoing storage dynamics. Lower prices reduce the incentive for aggressive European storage injections at current levels.
Read → TTF futures trade near €73.7-74.4/MWh with intraday gains after sharp prior dropInvesting.com
ICE Dutch TTF October futures opened around €73.7/MWh and traded in a €73.2-75.2 range, recovering modestly after Monday's steep decline. EU storage sits near 69.9% full, well below the seasonal norm of 88%, with net injections slowing. Warmer temperature forecasts and softer near-term demand are cited as supporting the downside move in benchmarks.
Read → JKM falls 5.53% to $25.99/MMBtu on latest assessmentTankerMap / OilPriceAPI
The Japan-Korea Marker (JKM) LNG spot benchmark dropped 5.53% to $25.99/MMBtu for the latest session. The decline tracks softer Asian spot demand and a narrowing but still positive JKM-TTF arb spread of roughly $4.40/MMBtu. Reduced competition for cargoes from Europe amid the TTF pullback contributes to the move.
Read → TTF at €73.66/MWh as EU storage lags seasonal norm by 18 pointsEnergyRiskIQ
European TTF settled near €73.66/MWh, down sharply day-over-day, with storage at 69.9% of capacity versus an 88% seasonal average. Slower injection pace and milder weather outlooks weigh on prices despite the structural storage deficit. The data underscore limited near-term upward pressure on the benchmark from storage refill dynamics.
Read → US Nat Gas
What's moving · Henry Hub futures hit four-week high near $2.87 on hotter weather forecasts and firm oil prices ahead of EIA storage report.
US natgas futures hit four-week high near $2.87.World Energy News
Front-month NYMEX gas futures rose 9.6 cents or 3.5% to $2.87/MMBtu on Wednesday, their highest since July 24. Support came from forecasts for hotter weather boosting power demand and steady oil prices. Traders await the weekly EIA storage report due this week amid a still-robust inventory surplus.
Read → US and China discuss scrapping 15% LNG tariff.Jarrett Renshaw · Reuters
Washington and Beijing are negotiating to reduce or eliminate China's 15% tariff on US LNG as part of a broader energy and agriculture deal package potentially worth $30 billion in reciprocal cuts. The move comes ahead of Chinese President Xi Jinping's visit to Washington next week. US LNG exports averaged 17.4 bcf/d in the first half of 2026, up 23% from a year earlier.
Read → September power burn on pace for record.S&P Global
Power-sector gas demand averaged 46.2 bcf/d Sept. 1-14, up 6.8 bcf/d year-over-year and on track to shatter the prior September record of 40.7 bcf/d. Strong burn stems from lingering summerlike heat in the South. Henry Hub spot prices averaged a subdued $2.85/MMBtu over the period while Southeast cash premiums stayed elevated.
Read → Global Nat Gas & LNG
What's moving · TTF falls 2% to €78-79/MWh as EU storage lags at 69.6% (-18pp vs norm) amid tight global LNG.
QatarEnergy warns Hormuz crisis may delay LNG expansionReuters
QatarEnergy CEO Saad al-Kaabi said the Strait of Hormuz crisis is delaying critical equipment for North Field East and South LNG expansions, with first NFE trains now eyed for 2027 and NFS for 2028. Current output is only a "very minute" volume. This prolongs global LNG tightness, supporting higher TTF and JKM by limiting new supply into 2027-28.
Read → US LNG tanker reports suspected cyberattack en route to ItalyBloomberg
The Vivit Africa LNG tanker suffered systems failure while carrying US cargo toward Italy; crew suspected cyberattack. Adds to recent tanker incidents and highlights delivery risks for Atlantic LNG into Europe, a key TTF supply source amid storage shortfalls.
Read → Goldman: TTF to €105, JKM to $35 if Gulf LNG constrainedInvestingLive / Reuters
Goldman Sachs says TTF and JKM could reach €105/MWh and $35/MMBtu by year-end without improvement in Persian Gulf LNG flows, versus base case of €70 and $25. The outlook hinges on Hormuz recovery; persistent constraints would force demand destruction in Europe and Asia.
Read → US Nat Gas
What's moving · EIA reports 44 Bcf storage build, below 49 Bcf consensus and 74 Bcf average, as LNG feedgas dips on Cameron maintenance.
Natgas futures fade after bullish 44 Bcf EIA buildJodi Shafto · Natural Gas Intelligence
EIA reported a 44 Bcf injection for the week ended Sept. 11, below the 49 Bcf consensus and 74 Bcf five-year average, lifting inventories to 3,298 Bcf (3.7% above average but 122 Bcf below year-ago). Futures rose initially on the tighter-than-expected build but lost momentum later in the session amid strong production and cooling weather forecasts.
Read → US natgas futures ease to $2.876 on LNG flows dropReuters
Front-month October futures fell 1.5 cents to $2.876/MMBtu as LNG feedgas flows dropped to a three-week low of 17.5 Bcf/d, mainly from maintenance at Sempra’s Cameron LNG in Louisiana. Lower 48 output rose to 113.1 Bcf/d in September while analysts expected a 49 Bcf storage build versus 74 Bcf average.
Read → EIA: +44 Bcf storage to 3,298 Bcf week ended Sep 11EIA
Working gas rose 44 Bcf to 3,298 Bcf, 122 Bcf below last year and 118 Bcf above the five-year average. East and Midwest led regional builds while South Central saw a 5 Bcf withdrawal; the lean injection reflects late-season heat supporting power burn.
Read → Cameron LNG train offline cuts feedgas to 1.3 Bcf/dWorld Energy News / Reuters
One Cameron LNG train went offline for scheduled maintenance, dropping feedgas from 2 Bcf/d to 1.3 Bcf/d and contributing to a broader dip in US LNG export plant flows. The outage is temporary and will not interrupt customer service.
Read → US Nat Gas
What's moving · Late-summer heat drives record September power burn, lifting Henry Hub futures toward $3 despite ample storage.
Late heat fuels record Sept power burnChris Newman · Natural Gas Intelligence
Natural gas power burn across the Lower 48 started September at its strongest pace on record as summer-like heat lingered over the South. Power burn ran 13% above the five-year average, expanding Henry Hub premiums in the Southeast and pointing to a lighter-than-normal injection in the upcoming EIA storage report. The heat supports near-term demand while the season advances.
Read → Futures push higher but stall short of $3Chris Newman · Natural Gas Intelligence
Natural gas futures moved up early Wednesday on record-challenging Southern heat and firm demand but faded as LNG feedgas softened and forecasts turned bearish beyond the weekend. October hovered below $3 resistance while Golden Pass LNG feedgas rebounded. Traders await Thursday’s EIA storage report.
Read → Enbridge opens season for new Permian pipelineNatural Gas Intelligence
Enbridge launched a non-binding open season for its proposed West Texas Express system to move up to 2 bcfd of Permian natural gas to El Paso markets. The project targets rising associated-gas output from the basin amid growing LNG and power demand. It adds to a wave of Permian takeaway expansions planned through 2027.
Read → Global Nat Gas & LNG
What's moving · TTF holds near €78/MWh as EU storage lags at 68% full, curbing injections amid Gulf LNG disruptions.
Asia LNG imports hit 8-year Sept low as prices deter buyersReuters
Kpler data show Asia LNG arrivals at 20.09 million tons in September, the weakest since 2018, as spot prices reached $26/mmBtu. Europe is pulling more cargoes with September imports rising to 7.98 million tons, easing its storage pressure. The shift frees supply for northwest Europe amid Qatar disruptions but keeps TTF elevated.
Read → Asia LNG demand to drop 3-10% this year on high pricesReuters
Analysts forecast Asian LNG demand falling 3-10% year-on-year due to prices doubling to $26/mmBtu after Gulf supply cuts from the Iran conflict. China leads the decline with a projected 6.1 million ton drop. Lower Asian buying supports Europe by redirecting flexible cargoes, sustaining TTF strength.
Read → EU gas storage at record low 67-68% full for seasonEUToday
EU storage sits around 67-68% full, 16 points below the five-year average, the lowest seasonal level in years. Executives at Gastech noted the shortfall leaves Europe exposed ahead of winter as Hormuz disruptions limit Qatar LNG. Storage is projected to reach only 75% by November even with higher imports.
Read → TTF holds above €80/MWh near 2022 highs on storage woesMichael Kern · OilPrice.com
Front-month TTF rose 0.3% to around €80.55/MWh ($92.95 equivalent) amid low storage and Middle East supply risks. Prices have held above €80/MWh after a 6% Monday jump, the highest since the 2022 crisis. Low inventories and Gulf LNG constraints keep the market tight.
Read → US Nat Gas
What's moving · Natgas futures climb to one-week high on lower output and late-September heat lifting power burn.
Natgas futures hit one-week high on lower output, heatReuters
US natural gas futures for October delivery rose 3.9 cents or 1.3% to $2.935/MMBtu on Tuesday, their highest close since September 4. LSEG data showed Lower 48 output at 113.2 bcfd month-to-date but daily flows dropping toward a two-month low of 108.4 bcfd, while LNG feedgas averaged 18.3 bcfd so far in September. Hotter-than-normal weather through September 30 is keeping power-sector gas burn elevated, narrowing the storage surplus to an estimated 3.6% above normal for the week ended September 11 ahead of Thursday’s EIA report.
Read → Tighter balances push natgas bulls toward $3 handleJodi Shafto · Natural Gas Intelligence
Natural gas futures held higher Tuesday as lower production and lingering late-season cooling demand tightened near-term balances. Spot prices strengthened across much of the US with pipeline restrictions supporting Northeast markets. Gains faded along the curve, reflecting the market’s reluctance for a broader bullish shift despite the support from heat and output dips.
Read → Corpus Christi becomes US’s second-largest LNG facilityEIA
On August 28, Cheniere completed its Corpus Christi Liquefaction Stage 3 project, adding the seventh and final train and lifting total nominal capacity to 3.1 Bcf/d (3.9 Bcf/d peak). The facility is now the second-largest US LNG terminal after Sabine Pass. Production has ramped gradually across the midscale trains, boosting overall US export capability and supporting higher LNG feedgas demand.
Read → Global Nat Gas & LNG
What's moving · Prolonged Hormuz outage and low EU storage keep TTF near €81/MWh and JKM at $27.76/MMBtu.
TTF holds near €82 amid Middle East risks.Adam Whittaker · Dow Jones Newswires / WSJ
Dutch TTF front-month trades around €82.27/MWh with limited downside. ING analysts cite Middle East escalation reducing Persian Gulf LNG flows and Europe’s struggle to reach 75% storage. Tight global LNG balances support prices into winter.
Read → Northeast Asia spot LNG jumps to $28.40/MMBtu.Energy Intelligence
Northeast Asia spot LNG rose $2.70 week-on-week to $28.40/MMBtu; Southwest Europe LNG hit $27.50/MMBtu. Low EU storage and unresolved Middle East supply issues drive the gains. JKM-TTF spread signals ongoing Asia-Europe cargo competition.
Read → JKM rises 10.8% to $27.76/MMBtu.OilPriceAPI / EnergyRiskIQ
JKM LNG benchmark climbed $2.70 (+10.77%) to $27.76/MMBtu on September 15. The move reflects tight supply from Hormuz disruptions and Asian demand. JKM holds a $4/MMBtu premium over TTF, directing cargoes toward Asia.
Read → US Nat Gas
What's moving · Henry Hub futures rose 2% to $2.88-2.90 as daily output dipped and LNG feedgas hit 18.8-19.6 bcfd amid heat-driven cooling demand.
US natgas futures rise 2% on lower output, higher LNG exports.Reuters
Front-month October futures rose 5.2 cents or 1.8% to $2.883/MMBtu on Monday. LSEG data showed Lower 48 output on track for a two-week low of 112.8 bcfd while flows to nine major LNG plants averaged 18.3 bcfd so far in September, up from 17.2 bcfd in August. Hotter temperatures are narrowing the storage surplus ahead of Thursday’s EIA report.
Read → Natgas futures rebound on September cooling demand near record.Chris Newman · Natural Gas Intelligence
Prompt-month futures gained Monday as hotter weekend forecasts pushed September cooling demand close to the all-time record. LNG feedgas remained strong near 19 bcfd while production held near record highs; NGI models a 50 Bcf injection for the week ended Sept. 11 that would still narrow the five-year surplus.
Read → US natgas prices rise to $2.89 on lower output, stronger LNG exports.Agna Gabriel · Trading Economics
Prices climbed to $2.89/MMBtu supported by Lower 48 output falling to a two-week low of 111.7 bcfd on Friday and LNG facility flows reaching a 20-week high of 18.8 bcfd. Warmer weather is boosting power-sector demand and beginning to trim the 4.8% storage surplus versus the five-year average.
Read → Storage surplus likely narrows as heat boosts demand and LNG pulls gas.Patrick Rau · Natural Gas Intelligence
NGI expects a 50 Bcf injection for the week ended Sept. 11, below last year’s build and the five-year average, shrinking the surplus to 124 Bcf. LNG deliveries averaged 19.1 bcfd last week while Lower 48 dry-gas production slipped 0.9 bcfd to 111.9 bcfd; wind and solar output also fell 11% week/week.
Read → Global Nat Gas & LNG
What's moving · TTF at €82/MWh (down 0.5%) as EU storage at 68% lags seasonal norms, pressuring injections amid tight LNG supply.
French strike cuts Dunkirk LNG send-out to 4 GWh/dayReuters
A 24-hour strike at French power and gas operators reduced delivery capacity at the Dunkirk LNG terminal to 4 GWh/day from a normal minimum of 9.4 GWh/day starting 0700 GMT Tuesday. No cargoes were redirected, per LSEG analysts. The disruption hits LNG send-out into northwest Europe at a time when EU storage refill is lagging and Europe competes for flexible cargoes.
Read → China, India LNG demand to rebound post-Mideast conflictReuters
Executives at GAIL and PetroChina said Chinese and Indian LNG imports, currently at multi-year lows, will rebound once Middle East supply normalizes and spot prices ease from near $30/MMBtu. The war has already cost the world 36 mt of LNG this year per Shell. Reduced Asian demand has eased some competition for cargoes that Europe needs for storage injections.
Read → PTT seeks US Gulf LNG deals to diversify supplyBloomberg
PTT Pcl is negotiating additional LNG purchases from the US Gulf Coast and is open to minority stakes in export projects to secure better terms and diversify away from traditional sources. The move comes as global LNG markets remain tight due to Middle East disruptions, increasing inter-basin competition between Europe and Asia for spot cargoes.
Read → Netherlands lowers storage target to ease pricesBloomberg
The Dutch government reduced its gas storage filling target to 64% of capacity, 10 points below the prior goal, to ease upward pressure on wholesale prices. The change responds to an EU call for flexibility amid Middle East supply risks and lagging injections; Germany and others are also missing targets as storage sits well below seasonal averages.
Read → US Nat Gas
What's moving · LNG feedgas hits 19.6 Bcf/d peak while EIA storage builds 40 Bcf, capping Henry Hub near $2.80.
LNG feedgas surges to 19.6 Bcf/d, strongest since April.Jacob Dick · Natural Gas Intelligence
Deliveries to US export terminals hit 19.6 Bcf/d on Friday per NGI Entropic Analytics data, up from a recent 18.4 Bcf/d average as Freeport and Corpus Christi recovered from maintenance. The seven-day average reached 19.1 Bcf/d. Stronger LNG pull tightens the domestic balance and supports prices despite ample storage.
Read → Golden Pass Train 1 draws only one-third capacity.Chris Newman · Natural Gas Intelligence
Golden Pass Train 1 nominations fell 46% to 277,000 Dth/d in September, far below expectations five months into commissioning. Analysts at Aegis flag delays for Trains 2 and 3. The slow ramp trims winter and early-2027 demand forecasts by several hundred MMcf/d.
Read → No hurricanes boost LNG feedgas 2+ Bcf/d above 2025.Chris Newman · Natural Gas Intelligence
Atlantic hurricane season peaked with zero named storms, an ACE index at a 1941-era low. US LNG terminals ran unimpeded and feedgas deliveries exceeded 2025 levels by more than 2 Bcf/d. El Niño conditions further suppressed tropical activity through the peak risk window.
Read → Global Nat Gas & LNG
What's moving · TTF surges 5% to €83+/MWh on Middle East LNG supply fears and sub-70% EU storage.
TTF jumps above €83/MWh on Middle East LNG risksEbru Şengül · Anadolu Agency
The October TTF contract rose above €83/MWh intraday Monday, up over 5% from Friday's €79.52 close, driven by renewed Middle East tensions including Saudi pipeline issues and Hormuz shipping risks that threaten Qatari LNG flows. EU storage sits at 68% full per GIE data, well below seasonal norms, forcing Europe to compete harder with Asia for spot cargoes. The European Commission sees no immediate winter supply risk but notes prolonged disruptions could intensify global competition and lift prices further.
Read → TTF hits €82.51/MWh with EU storage at 68%EnergyRiskIQ
TTF settled near €82.51/MWh on September 13, up €3.21 or 4.05% day-over-day and +10.1% over the past week, as storage lags at 68% of capacity (-20pp vs. 88% norm). JKM LNG holds around $24.88/MMBtu, keeping the inter-basin arb tight and supporting European bids for flexible Atlantic cargoes. Elevated geopolitical risk keeps the market sensitive to any escalation in Red Sea or Gulf shipping disruptions.
Read → US Nat Gas
What's moving · Record Lower 48 output at 113.4 bcfd and 40 Bcf storage build above expectations pressure Henry Hub to two-week low near $2.78.
Natgas futures slide 2% to two-week low on record output, ample storage.Reuters
US natural gas futures for October delivery fell 4.5 cents or 1.6% to $2.777/MMBtu on Thursday. Record Lower 48 output reached 113.4 bcfd in September so far per LSEG, while the EIA reported a 40 Bcf injection for the week ended September 4, exceeding the 31 Bcf consensus and leaving stocks 4.8% above the five-year average. The build and supply glut outweighed warmer weather support for power burn and LNG flows near 18.3 bcfd.
Read → EIA posts 40 Bcf injection, above 31 Bcf forecast, deepening y/y deficit.Andrew Baker · Natural Gas Intelligence
The EIA reported a 40 Bcf net injection for the week ended September 4, lifting Lower 48 working gas to 3,254 Bcf. Stocks sit 79 Bcf or 2.4% below year-ago levels and 148 Bcf above the five-year average of 3,106 Bcf. East and Midwest drove most of the build while South Central salts saw a draw; the larger-than-expected print kept futures pressured despite tightening relative to last year.
Read → 40 Bcf storage build exceeds forecasts, futures slip below $2.80.Kevin Dobbs · Natural Gas Intelligence
October NYMEX futures traded around $2.786/MMBtu midday after the 40 Bcf EIA print beat the 31 Bcf expectation. The injection exceeded seasonal norms but reflected continued ample supply from near-record production. LNG feedgas and some production dip provided minor support, yet the overall balance kept prices in retreat amid forecasts for milder fall demand.
Read → Global Nat Gas & LNG
What's moving · TTF falls 2-3% today to €80/MWh as storage refill pace and milder signals ease immediate winter fears amid lingering LNG supply concerns.
TTF holds near three-year highs on low EU storage, LNG risksGiulia Petroni · Wall Street Journal
European natural gas prices remain at their highest since late 2022, with the Dutch TTF benchmark trading near or above €80/MWh. EU gas storage sits at roughly 67% full, well below the 84% five-year average, while Middle East LNG disruptions heighten winter supply risks. A widening TTF-JKM spread adds support by increasing competition for flexible cargoes.
Read → Ignitis signs 10-cargo LNG deal with EQT unit for 2027-2036Ignitis Grupe / GlobeNewswire
Lithuanian utility Ignitis will buy one LNG cargo (1 TWh) per year from an EQT Corp subsidiary under a 2027-2036 contract won via tender. Pricing links to Henry Hub and TTF benchmarks to manage volatility for residential customers. The deal diversifies supply and requires regulatory and security approvals.
Read → Arctic LNG 2 files $1B claim vs Hanwha over canceled tankersReuters
Arctic LNG 2, 60% owned by Novatek, seeks about $1 billion in damages from Hanwha Ocean at the Singapore International Arbitration Centre over terminated Arc7 tanker contracts hit by sanctions. The project has faced repeated setbacks, limiting its ability to ramp exports to Asia despite some recent output gains.
Read → Arctic LNG 2 hits record output amid expanded dark fleetBloomberg
Novatek’s Arctic LNG 2 produced over 27 million cubic meters per day in July-August, nearly double August 2025 levels, aided by more dark-fleet tankers routing cargoes to China. Sanctions continue to constrain full commercial operations and dedicated ice-class shipping capacity.
Read → US Nat Gas
What's moving · Record US Lower 48 output at 113.5 bcfd and milder demand forecasts drive Henry Hub futures to two-week low near $2.845/MMBtu.
US natgas futures fall to two-week low on record outputReuters
Front-month October NYMEX futures fell 7.1 cents or 2.4% to $2.845 per MMBtu. LSEG data showed Lower 48 dry gas output averaging 113.5 bcfd in September so far, up from August's record 112.2 bcfd. Ample storage above the five-year average and lower demand forecasts for this week versus prior outlook weighed on prices despite LNG feedgas flows rising to 18.3 bcfd.
Read → US natgas futures decline as weather coolsAnthony Harrup · Wall Street Journal
NYMEX natural gas settled down 3.2% at $2.822 per MMBtu. Analysts cited cooler late-September forecasts cutting power-sector demand and ample storage supplies. The market eyes a smaller-than-average storage build in Thursday's EIA report despite LNG demand near April highs.
Read → Cooler forecasts break natgas below 50-day averageJames Hyerczyk · FXEmpire
October NYMEX futures traded at $2.863 per MMBtu, down 1.82%. Lower-48 dry gas production hit 114.3 bcfd last week while LNG feedgas reached a four-month high. Fading cooling demand and forecasts for milder fall weather outweighed export support.
Read → Global Nat Gas & LNG
What's moving · TTF surges above €79/MWh on low EU storage and Middle East supply risks; JKM holds near $24.70/MMBtu amid tight global LNG.
TTF futures climb to near €80/MWh levelsInvesting.com
October 2026 TTF contract traded around €78.17, €79.91/MWh with recent sessions posting gains of several percent, including a +4.66% day. Volumes remain elevated as the benchmark reflects storage shortfalls and geopolitical LNG constraints. The price action underscores ongoing tightness in northwest European gas markets.
Read → JKM futures near $24.69/MMBtu with modest gainsInvesting.com
JKM Platts futures settled around $24.685/MMBtu, up roughly 1.23% in the latest session. The Asian benchmark reflects steady Northeast Asian demand and competition for spot cargoes diverted from or competing with Europe. Limited new supply keeps the arb spread with TTF narrow.
Read → US Nat Gas
What's moving · Record 113.7 bcfd Lower 48 output and ample storage ease October Henry Hub futures 0.8% to $2.95/MMBtu.
US natgas futures ease on record output, ample storageReuters
LSEG data shows US Lower 48 gas output averaging 113.7 bcfd so far in September, up from August's record 112.2 bcfd. Front-month October NYMEX futures fell 2.5 cents to $2.95/MMBtu as storage stays above the five-year average. Mild spring weather and high output keep inventories elevated heading into the storage report due Thursday.
Read → US natgas futures retreat as weather set to coolAnthony Harrup · Wall Street Journal
NYMEX natural gas settled down 2% at $2.916/MMBtu on Tuesday after probing above $3.00 early. Analysts cite fading cooling demand in the second half of September as the main driver. Strong LNG feedgas demand provides the main counterbalance to bearish weather forecasts.
Read → September natgas spot basis tracks seasonal trendChris Newman · Natural Gas Intelligence
Fewer hubs priced above Henry Hub in early September amid thinning seasonal basis premiums. NGI projects a 34 Bcf storage injection for the week ended Sept. 4. Persistent Southeast heat and LNG feedgas near highs support near-term prices despite broader supply pressure.
Read → US LNG exports rise 23% in first half of 2026Journal of Petroleum Technology
EIA data shows US LNG exports averaged 17.4 bcfd in 1H26, up 23% from 2025 on new capacity at Plaquemines, Corpus Christi Stage 3 and Golden Pass. Exports are forecast to average 17.3 bcfd in 2H26 before rising further in 2027. Capacity additions drive the fastest growth since large-scale US exports began.
Read → Global Nat Gas & LNG
What's moving · TTF surges to 3-year high on low EU storage at 67% full and Middle East LNG supply risks.
TTF jumps 2% as winter storage race heats upMichael Kern · OilPrice.com
Front-month TTF rose 2% to around €74.82/MWh ($86.90/MWh equivalent), the highest since the 2022-2023 crisis. Prices have rallied on four straight weekly gains as EU storage sits below 70% full versus 82% last year and an 80%+ five-year average. Middle East tensions have curtailed Qatar LNG flows through Hormuz, intensifying competition for non-chokepoint cargoes.
Read → JKM at $24.03/MMBtu as TTF nears parityLNG Price Index
JKM LNG held near $24.03/MMBtu with modest firming while TTF converted to roughly $24.90/MMBtu, narrowing the JKM-TTF spread to near parity at about -$0.87/MMBtu. The tight spread keeps the Pacific diversion window largely closed. Continued Hormuz escalation risk and below-average European storage support both benchmarks.
Read → Europe enters winter with low gas stocksReuters
EU gas storage stands around 66% full, the lowest for this date in 15 years and roughly 12 points below last year per Gas Infrastructure Europe data. Gulf LNG exports have fallen over 85% year-over-year due to Hormuz constraints, with QatarEnergy extending force majeure into November. Low inventories heighten reliance on spot LNG and pipeline imports, sustaining upward price pressure.
Read → US Nat Gas
What's moving · Heat-driven power burn and LNG feedgas recovery support prices near $3 amid record production.
Natgas futures gain 3% weekly on heat, LNG demandNilanjan Choudhury · Zacks via Yahoo Finance
US natural gas futures rose about 3% last week to settle at $2.975/MMBtu. Hotter-than-normal weather boosted cooling and power demand while LNG feedgas flows jumped 12% as maintenance ended at several plants. The EIA reported a 30 Bcf storage injection for the week ended Aug 28, below the 37 Bcf five-year average, though record production and inventories above the seasonal norm capped gains.
Read → Natgas holds near $3 on late-season heat vs supplyJames Hyerczyk · FXEmpire
October futures traded near $2.97/MMBtu on light holiday volume, holding above the 50-day moving average. Hotter mid-September forecasts sustained power-sector demand while LNG feedgas neared 19 Bcf/d. Lower-48 production hit 114.3 Bcf/d and EIA sees record October storage of 3,985 Bcf, the highest in a decade, limiting upside despite supportive near-term factors.
Read → Natgas futures hit four-week high on weather outlookWorld Energy News
Front-month futures rose to a near four-week high supported by hotter weather forecasts and firm oil prices ahead of the weekly storage report. LSEG data showed Lower 48 output at 111.5 Bcf/d in August and LNG plant flows at 17.2 Bcf/d. Inventories remained above the five-year average despite summer heat.
Read → Natgas drops to six-week low on LNG maintenance, storageWorld Energy News
Futures fell about 4% to a six-week low after expectations of low LNG flows due to Freeport maintenance and a larger-than-expected storage build. EIA reported a 61 Bcf injection for the week ended July 3. LSEG noted Lower 48 output at 109.7 Bcf/d in July with LNG flows at 17.8 Bcf/d.
Read → Global Nat Gas & LNG
What's moving · TTF surges 1-2% to near €74/MWh on low EU storage and Hormuz risks as traders race to inject.
Qatar brings empty LNG ships home for possible restartStephen Stapczynski · Bloomberg
Six empty Qatari-linked LNG carriers are in the Gulf of Oman or heading there, with another recently crossing Hormuz into the Persian Gulf toward Qatar, per Bloomberg-compiled Kpler ship-tracking data. Qatar has largely halted exports since a tanker attack in late July but continues limited loadings inside the Gulf. The positioning signals preparation for a potential resumption of shipments through the strait even as US-Iran tensions flare, which could ease global LNG tightness affecting both TTF and JKM.
Read → Qatar sends first LNG cargo through Hormuz in weeksBloomberg via multiple outlets
The Al Marrouna tanker, loaded in Qatar last month, transited the Strait of Hormuz broadcasting its location en route to Pakistan's Port Qasim, the first visible Qatari LNG exit via the waterway in weeks. This follows empty tankers repositioning toward the Gulf and comes as Qatar extended force majeure on some deliveries into October while maintaining minimal operations. A sustained resumption could relieve pressure on European and Asian spot prices by restoring a key supply source.
Read → Asia LNG hits highest since 2022 on Hormuz flare-upBloomberg
Spot LNG prices in Asia climbed to $25.908/MMBtu, the highest since December 2022, after renewed US-Iran hostilities raised fears of prolonged Hormuz disruptions. The surge more than doubled prices from pre-conflict levels and weighed on demand in price-sensitive markets like China and Pakistan. Elevated Asian benchmarks relative to Europe have influenced cargo flows, though recent TTF strength has narrowed the arb and limited diversions.
Read → US Nat Gas
What's moving · Heat-driven power burn and recovering LNG feedgas lift October natgas futures toward $3 resistance.
Nymex October natgas settles up 6.2 cents at $2.975/MMBtu after testing $3.Energy Intelligence
October natural gas futures rose 6.2 cents to settle at $2.975 per million Btu on Friday after reaching an intraday high of $2.986. The move reflects support from persistent late-summer heat boosting power-sector demand. The contract still faces resistance at the psychologically important $3 level amid ample overall supply.
Read → EIA reports 30 Bcf storage injection for week ended Aug. 28.Energy Intelligence
The EIA reported a 30 Bcf net injection into U.S. natural gas storage for the week ended August 28, lifting total working gas to 3,214 Bcf. Inventories stand 5.2% above the five-year average and 50 Bcf below year-ago levels. The build was in line with expectations and narrowed the surplus versus the five-year norm by about 7 Bcf.
Read → Gulf Coast spot prices surge on latest heat wave.Energy Intelligence
A new heat wave pushed some Gulf Coast natural gas spot prices to levels not seen since last winter. Strong cooling demand from power generators is tightening regional balances. The heat supports higher power-burn consumption into early September.
Read → Weekly storage summary details regional injections.Energy Intelligence
The latest North American storage report covers U.S. and Canadian inventories for the week ending September 3. Regional data show East and Midwest injections offsetting limited withdrawals elsewhere. Overall U.S. stocks remain comfortably above seasonal averages heading into shoulder season.
Read → Global Nat Gas & LNG
What's moving · TTF surges over 2% to near €74/MWh on Qatar LNG force majeure extension and EU storage at 66% full, below seasonal norms.
European gas rises on Qatar LNG curbs, low storageGiulia Petroni · Dow Jones Newswires / WSJ
European natural gas prices climbed more than 2% in early trading, with the Dutch TTF benchmark up 2.4% to 73.73 euros per megawatt-hour. Qatar extended force majeure on LNG shipments to major customer Edison through early November, keeping flows severely disrupted. EU gas storage sits at 66% full, below the seasonal average, leaving the market vulnerable ahead of the 2026/27 heating season as LNG supply lags crude recovery.
Read → JKM, TTF and HH all rose in weekly updateJOGMEC
JOGMEC reported that JKM, TTF and Henry Hub prices all rose in the latest weekly assessment. The update tracks global benchmarks amid ongoing supply tightness. No specific drivers were detailed beyond the upward moves across the three key hubs.
Read → TTF at €74.93/MWh up 4.46% day-over-dayEnergyRiskIQ
Dutch TTF traded at €74.93/MWh, up €3.20 or 4.46% from the prior session. EU storage stood at 66.6% full, 21.4 points below the 88% seasonal norm. The JKM-TTF arb spread showed JKM at a slight premium, influencing potential cargo flows between basins.
Read → EU storage at 66.59% with slow injectionsGIE AGSI+ via multiple trackers
EU-wide gas storage reached 753.48 TWh or 66.59% full on the gas day ending September 6. Net injection continued at a modest pace amid high prices and limited LNG arrivals. Levels remain well below historical norms for early September, tightening the supply buffer for winter.
Read →