UPDATE 2-US natgas prices fall to two-week low on big storage build and slow rise in output
Adds latest prices
By Scott DiSavino
NEW YORK, June 11 (Reuters) - U.S. natural gas futures fell about 3% on Thursday to a two-week low, on a bigger-than-expected weekly storage build and a slight increase in daily output.
Front-month gas futures for July delivery NGc1 on the New York Mercantile Exchange fell 9.8 cents, or 3.1%, to settle at $3.087 per million British thermal units (mmBtu), their lowest close since May 27.
The U.S. Energy Information Administration said energy firms added 108 billion cubic feet (bcf) of gas into storage during the week ended June 5.
That was bigger than the 99-bcf build analysts forecast in a Reuters poll and compares with an increase of 110 bcf during the same week last year and a five-year (2021-2025) average increase of 95 bcf for the period. EIA/GAS NGAS/POLL
SUPPLY AND DEMAND:
Financial group LSEG said average gas output in the U.S. Lower 48 states fell to 109.0 billion cubic feet per day (bcfd) so far in June, down from 109.7 bcfd in May and a monthly record high of 110.6 bcfd in December 2025. The average so far for June is higher than the figure on Wednesday.
Meteorologists forecast the weather will remain mostly warmer-than-normal through June 26, which should boost the amount of gas that power generators burn to keep air conditioners humming. About 40% of U.S. power generation comes from gas-fired plants.
LSEG projected average gas demand in the Lower 48 states, including exports, would rise from 102.9 bcfd this week to 104.3 bcfd next week. Those forecasts were similar to LSEG's outlook on Wednesday.
Average gas flows to the nine big U.S. LNG export plants fell from 17.1 bcfd in May to 16.5 bcfd so far in June due to ongoing spring maintenance at several plants, including ExxonMobil XOM.N/QatarEnergy's Golden Pass facility and Freeport LNG's plant in Texas.
Those flows compare with a monthly LNG feedgas record high of 18.8 bcfd in April.
Cheniere Energy's LNG.N Corpus Christi export plant in Texas was on track to take in more gas on Thursday after trains 1-6 at the Midscale Stage 3 expansion shut down on Wednesday.
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Week ended Jun 5 Actual |
Week ended May 29 Actual |
Year ago Jun 5 |
Five-year average (2021-2025) Jun 5 |
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U.S. weekly natgas storage change (bcf): |
+108 |
+95 |
+110 |
+95 |
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U.S. total natgas in storage (bcf): |
2,686 |
2,578 |
2,691 |
2,535 |
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U.S. total storage versus 5-year average |
+6.0% |
+5.7% |
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Global Gas Benchmark Futures ($ per mmBtu) |
Current Day |
Prior Day |
This Month Last Year |
Prior Year Average 2025 |
Five-Year Average (2021-2025) |
Henry Hub NGc1 |
3.12 |
3.19 |
3.64 |
3.62 |
3.79 |
Title Transfer Facility (TTF) TRNLTTFMc1 |
16.82 |
17.00 |
12.38 |
11.94 |
18.51 |
Japan-Korea Marker (JKM) JKMc1 |
18.92 |
18.89 |
13.05 |
12.24 |
18.12 |
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LSEG U.S. Global Forecast System (GFS) Heating, Cooling and Total Degree Days |
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Two-Week Total Forecast |
Current Day |
Prior Day |
Prior Year |
10-Year Norm |
30-Year Norm |
U.S. GFS Heating Degree Days (HDD) |
7 |
8 |
20 |
20 |
13 |
U.S. GFS Cooling Degree Days (CDD) |
193 |
189 |
138 |
138 |
152 |
U.S. GFS Total Degree Days (TDD) |
200 |
195 |
158 |
158 |
165 |
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LSEG U.S. Weekly GFS Supply and Demand Forecasts |
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Prior Week |
Current Week |
Next Week |
This Week Last Year |
Five-Year (2021-2025) Average for Month |
U.S. Supply (bcfd) |
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U.S. Lower 48 Dry Production |
109.6 |
109.0 |
108.7 |
106.1 |
100.6 |
U.S. Imports from Canada |
6.7 |
6.9 |
6.5 |
N/A |
7.7 |
U.S. LNG Imports |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
Total U.S. Supply |
116.3 |
116.0 |
115.2 |
N/A |
108.3 |
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U.S. Demand (bcfd) |
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U.S. Exports to Canada |
2.0 |
2.1 |
2.1 |
N/A |
2.3 |
U.S. Exports to Mexico |
7.1 |
7.3 |
7.4 |
N/A |
6.7 |
U.S. LNG Export Feedgas |
16.6 |
16.7 |
17.7 |
14.1 |
12.0 |
U.S. Commercial |
4.7 |
4.5 |
4.3 |
4.5 |
5.0 |
U.S. Residential |
4.2 |
3.7 |
3.5 |
3.8 |
4.2 |
U.S. Power Plant |
34.5 |
39.4 |
40.0 |
37.7 |
39.1 |
U.S. Industrial |
21.7 |
21.6 |
21.7 |
22.2 |
21.8 |
U.S. Plant Fuel |
5.4 |
5.4 |
5.4 |
5.4 |
5.2 |
U.S. Pipe Distribution |
1.9 |
2.0 |
2.1 |
1.9 |
3.0 |
U.S. Vehicle Fuel |
0.1 |
0.1 |
0.1 |
0.1 |
0.2 |
Total U.S. Consumption |
72.6 |
76.8 |
77.1 |
75.6 |
78.5 |
Total U.S. Demand |
98.3 |
102.9 |
104.3 |
N/A |
99.5 |
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N/A = Not Available |
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U.S. Northwest River Forecast Center (NWRFC) at The Dalles Dam (fiscal year ending September 30) |
2026 Current Day % of Normal Forecast |
2026 Prior Day % of Normal Forecast |
2025 % of Normal Actual |
2024 % of Normal Actual |
2023 % of Normal Actual |
Apr-Sep |
86 |
86 |
76 |
74 |
83 |
Jan-Jul |
90 |
90 |
78 |
76 |
77 |
Oct-Sep |
95 |
95 |
80 |
77 |
76 |
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U.S. weekly power generation percent by fuel - EIA |
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Week ended Jun 12 |
Week ended June 5 |
2025 |
2024 |
2023 |
Wind |
13 |
11 |
11 |
11 |
10 |
Solar |
9 |
11 |
6 |
5 |
4 |
Hydro |
6 |
7 |
6 |
6 |
6 |
Other |
1 |
1 |
1 |
1 |
2 |
Petroleum |
0 |
0 |
0 |
0 |
0 |
Natural Gas |
39 |
38 |
40 |
42 |
41 |
Coal |
15 |
14 |
18 |
16 |
17 |
Nuclear |
18 |
18 |
18 |
19 |
19 |
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SNL U.S. Natural Gas Next-Day Prices ($ per mmBtu) |
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Hub |
Current Day |
Prior Day |
This Month Last Year |
Prior Year Average 2025 |
Five-Year Average (2021-2025) |
Henry Hub NG-W-HH-SNL |
3.27 |
3.18 |
3.12 |
3.52 |
3.72 |
Transco Z6 New York NG-CG-NY-SNL |
2.80 |
2.53 |
2.34 |
3.53 |
3.56 |
PG&E Citygate NG-CG-PGE-SNL |
1.75 |
1.77 |
3.12 |
3.42 |
5.47 |
Eastern Gas (formerly Dominion South) NG-PCN-APP-SNL |
2.53 |
2.34 |
2.17 |
2.79 |
2.96 |
Chicago Citygate NG-CG-CH-SNL |
2.84 |
2.77 |
2.76 |
3.23 |
3.60 |
Algonquin Citygate NG-CG-BS-SNL |
3.00 |
2.68 |
2.97 |
6.08 |
5.04 |
SoCal Citygate NG-SCL-CGT-SNL |
2.77 |
2.73 |
3.59 |
3.60 |
5.71 |
Waha Hub NG-WAH-WTX-SNL |
-0.98 |
-0.92 |
1.75 |
1.15 |
2.88 |
AECO NG-ASH-ALB-SNL |
1.25 |
1.25 |
0.64 |
1.13 |
2.13 |
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Intercontinental Exchange (ICE) U.S. Power Next-Day Prices ($ per megawatt-hour) |
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Hub |
Current Day |
Prior Day |
This Month Last Year |
Prior Year Average 2025 |
Five-Year Average (2021-2025) |
New England E-NEPLMHP-IDX |
81.05 |
61.09 |
60.18 |
77.61 |
61.79 |
PJM West E-PJWHRTP-IX |
161.75 |
110.00 |
70.06 |
60.23 |
54.47 |
Mid-Columbia (Mid C) W-MIDCP-IDX |
18.10 |
3.78 |
42.59 |
44.81 |
68.96 |
Palo Verde W-PVP-IDX |
27.20 |
24.63 |
38.53 |
34.82 |
59.94 |
South Path-15 (SP-15) W-SP15-IDX |
19.42 |
12.22 |
22.51 |
28.44 |
53.02 |