Natural Gas

Today in Energy

Recent Today in Energy analysis of natural gas markets is available on the EIA website.

Market Highlights:

Prices

• Henry Hub spot price: The Henry Hub spot price fell 22 cents from $3.43 per million British thermal units (MMBtu) last Wednesday to $3.21/MMBtu yesterday.
• Henry Hub futures price: The price of the May 2025 NYMEX contract decreased 57 cents, from $3.816/MMBtu last Wednesday to $3.247/MMBtu yesterday. The price of the 12-month strip averaging May 2025 through April 2026 futures contracts declined 34 cents to $3.929/MMBtu.
• Select regional spot prices: Natural gas spot prices rose at most locations this report week (Wednesday, April 9 to Wednesday, April 16). Price changes ranged from a 66 cent decrease at Algonquin Citygate to a $1.01 increase at Northwest Sumas.
• Prices rose on the West Coast this report week. The price at SoCal Citygate in Southern California increased 23 cents from $2.75/MMBtu last Wednesday to $2.98/MMBtu yesterday. Temperatures in the Riverside Area, east of Los Angeles, rose 2°F this report week, leading to 22 cooling degree days (CDDs), 11 CDDs higher than last week and 12 CDDs above normal. The price at Sumas on the Canada-Washington border, the main pricing point for natural gas in the Pacific Northwest, rose $1.01 from $0.81/MMBtu last Wednesday to $1.82/MMBtu yesterday. Temperatures in the Seattle City Area fell 2°F this report week, leading to 93 heating degree days (HDDs), 13 HDDs more than last week. The Columbia Nuclear Generating Station in Richland, Washington, had a refueling outage beginning on April 11 and is expected to continue for 56 days. Net flows of natural gas from Canada into the Pacific Northwest fell 4% (0.2 billion cubic feet per day [Bcf/d]) this report week, according to data from S&P Global Commodity Insights.

Daily spot prices by region are available on the EIA website.

• International futures prices: International natural gas futures prices decreased this report week. According to Bloomberg Finance, L.P., weekly average front-month futures prices for liquefied natural gas (LNG) cargoes in East Asia decreased 45 cents to a weekly average of $12.40/MMBtu. Natural gas futures for delivery at the Title Transfer Facility (TTF) in the Netherlands decreased 39 cents to a weekly average of $11.35/MMBtu. In the same week last year (week ending April 17, 2024), the prices were $10.19/MMBtu in East Asia and $9.73/MMBtu at TTF.
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Supply and Demand

• Supply: According to data from S&P Global Commodity Insights, the average total natural gas supply fell by 0.1% (0.1 Bcf/d) compared with the previous report week. Dry natural gas production grew by 0.5% (0.5 Bcf/d) to average 106.3 Bcf/d, and average net imports from Canada decreased by 9.3% (0.6 Bcf/d) from last week.
• Demand: Total U.S. natural gas consumption fell by 6.9% (5.4 Bcf/d) compared with the previous report week, according to data from S&P Global Commodity Insights. Natural gas consumption in the residential and commercial sector declined by 14.1% (3.5 Bcf/d), which coincided with warmer temperatures in the Midwest and West. Natural gas consumed for power generation declined by 5.4% (1.6 Bcf/d) week over week. Natural gas consumption in the industrial sector decreased by 1.4% (0.3 Bcf/d). Natural gas exports to Mexico decreased 3.6% (0.2 Bcf/d). Natural gas deliveries to U.S. LNG export facilities (LNG pipeline receipts) averaged 16.8 Bcf/d, or 0.2 Bcf/d higher than last week.

Liquefied Natural Gas (LNG)

• Pipeline receipts: Average natural gas deliveries to U.S. LNG export terminals increased 0.2 Bcf/d from last week to 16.8 Bcf/d this week, according to data from S&P Global Commodity Insights. Natural gas deliveries to terminals in South Louisiana increased 2.5% (0.2 Bcf/d) to 11.0 Bcf/d, and natural gas deliveries to terminals in South Texas decreased by 1.7% (0.1 Bcf/d) to 4.6 Bcf/d. Natural gas deliveries to terminals outside the Gulf Coast were essentially unchanged at 1.2 Bcf/d this week.
• Vessels departing U.S. ports: Thirty-four LNG vessels (10 from Sabine Pass, 5 each from Freeport and Corpus Christi, 4 each from Cameron and Plaquemines, 3 from Calcasieu Pass, 2 from Cove Point, and 1 from Elba Island) with a combined LNG-carrying capacity of 129 Bcf departed the United States between April 10 and April 16, according to shipping data provided by Bloomberg Finance, L.P.

Rig Count

• According to Baker Hughes, for the week ending Tuesday, April 8, the natural gas rig count increased by 1 rig from a week ago to 97 rigs. The Marcellus dropped one rig, the Haynesville added one rig, and one rig was added among unidentified producing regions. The number of oil-directed rigs decreased by 9 rigs from a week ago to 480 rigs. The Barnett added one rig. The Cana Woodford and the Eagle Ford each dropped one rig, the Permian dropped five rigs, and three rigs were dropped among unidentified producing regions. The total rig count, which includes 6 miscellaneous rigs, now stands at 583 rigs, 34 fewer rigs than last year at this time.

Storage

• Net injections into storage totaled 16 Bcf for the week ending April 11, compared with the five-year (2020–24) average net injections of 50 Bcf and last year's net injections of 46 Bcf during the same week. Working natural gas stocks totaled 1,846 Bcf, which is 74 Bcf (4%) lower than the five-year average and 480 Bcf (21%) lower than last year at this time.
• According to The Desk survey of natural gas analysts, estimates of the weekly net change to working natural gas stocks ranged from net injections of 12 Bcf to 33 Bcf, with a median estimate of 25 Bcf.

See also:

• Natural Gas Analysis Reports
• Short-Term Energy Outlook