US Natural Gas

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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