US Natural Gas

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 →

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 →

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 →

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 →

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 →

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 →

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 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 →

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 →

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 →

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 →

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 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 →

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 →

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 →

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 →

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 →

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 →

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 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 →

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 →

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 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 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 →

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 →

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 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 →

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 →

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 →

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 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 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 →

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 →

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 →

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 →

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 →

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 →

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 →

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 →

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 →

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 →

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 →

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 →

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 →

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 →

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 →

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 →

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 →

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 →

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 →

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 →

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 →

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 →

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 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 →

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 →

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 →

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 →

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 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 →

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 →

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 →

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 →

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 →