US natgas prices hit one-week low amid rising production, LNG plant maintenance
By Scott DiSavino
NEW YORK, June 8 (Reuters) - U.S. natural gas futures slid about 3% to a one-week low on Monday due to a small increase in output and lingering maintenance at liquefied natural gas (LNG) export plants.
Front-month gas futures for July delivery NGc1 on the New York Mercantile Exchange fell 8.1 cents, or 2.5%, to $3.148 per million British thermal units (mmBtu), putting the contract on track for its lowest close since May 27.
That price decline occurred even though Freeport LNG's export plant in Texas was on track to take in more gas on Monday after one of its three liquefaction trains shut down on Saturday.
Financial group LSEG said average gas output in the U.S. Lower 48 states has slid to 109.5 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. Average output so far in June, however, is higher than last week.
AMPLE AMOUNTS OF GAS IN STORAGE
Analysts said mild weather during the spring allowed energy firms to stockpile more gas than usual.
But they noted recent output declines likely reduced the surplus of gas in inventory to around 5% above normal during the week ended June 5, down from about 6% above normal in the previous week. EIA/GAS NGAS/POLL
Meteorologists forecast the weather will remain mostly warmer than normal through June 23, 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 102.7 bcfd this week to 103.3 bcfd next week. The forecast for this week was higher than LSEG's outlook on Friday, while its forecast for next week was lower.
Average gas flows to the nine big U.S. LNG export plants fell from 17.1 bcfd in May to 16.3 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.
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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): |
+94 |
+95 |
+110 |
+95 |
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U.S. total natgas in storage (bcf): |
2,672 |
2,578 |
2,691 |
2,535 |
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U.S. total storage versus 5-year average |
+5.4% |
+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 |
3.23 |
3.64 |
3.62 |
3.79 |
Title Transfer Facility (TTF) TRNLTTFMc1 |
17.07 |
16.48 |
12.38 |
11.94 |
18.51 |
Japan-Korea Marker (JKM) JKMc1 |
18.77 |
18.77 |
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) |
8 |
8 |
20 |
20 |
16 |
U.S. GFS Cooling Degree Days (CDD) |
187 |
188 |
138 |
138 |
145 |
U.S. GFS Total Degree Days (TDD) |
195 |
196 |
158 |
158 |
161 |
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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 |
110.0 |
110.2 |
106.1 |
100.6 |
U.S. Imports from Canada |
6.7 |
6.7 |
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 |
116.7 |
116.6 |
N/A |
108.3 |
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U.S. Demand (bcfd) |
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U.S. Exports to Canada |
2.0 |
2.2 |
2.1 |
N/A |
2.3 |
U.S. Exports to Mexico |
7.1 |
7.1 |
7.3 |
N/A |
6.7 |
U.S. LNG Export Feedgas |
16.6 |
16.7 |
17.2 |
14.1 |
12.0 |
U.S. Commercial |
4.7 |
4.5 |
4.3 |
4.5 |
5.0 |
U.S. Residential |
4.2 |
3.8 |
3.6 |
3.8 |
4.2 |
U.S. Power Plant |
34.5 |
39.2 |
39.6 |
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 |
2.0 |
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 |
76.8 |
75.6 |
78.5 |
Total U.S. Demand |
98.3 |
102.7 |
103.3 |
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 |
88 |
89 |
76 |
74 |
83 |
Jan-Jul |
91 |
93 |
78 |
76 |
77 |
Oct-Sep |
96 |
98 |
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 |
15 |
11 |
11 |
11 |
10 |
Solar |
12 |
11 |
6 |
5 |
4 |
Hydro |
9 |
7 |
6 |
6 |
6 |
Other |
1 |
1 |
1 |
1 |
2 |
Petroleum |
0 |
0 |
0 |
0 |
0 |
Natural Gas |
36 |
38 |
40 |
42 |
41 |
Coal |
13 |
14 |
18 |
16 |
17 |
Nuclear |
15 |
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 |
3.05 |
3.08 |
3.12 |
3.52 |
3.72 |
Transco Z6 New York NG-CG-NY-SNL |
2.38 |
2.30 |
2.34 |
3.53 |
3.56 |
PG&E Citygate NG-CG-PGE-SNL |
1.75 |
1.78 |
3.12 |
3.42 |
5.47 |
Eastern Gas (formerly Dominion South) NG-PCN-APP-SNL |
2.18 |
2.18 |
2.17 |
2.79 |
2.96 |
Chicago Citygate NG-CG-CH-SNL |
2.75 |
2.82 |
2.76 |
3.23 |
3.60 |
Algonquin Citygate NG-CG-BS-SNL |
2.40 |
2.48 |
2.97 |
6.08 |
5.04 |
SoCal Citygate NG-SCL-CGT-SNL |
2.65 |
2.73 |
3.59 |
3.60 |
5.71 |
Waha Hub NG-WAH-WTX-SNL |
-0.87 |
-0.44 |
1.75 |
1.15 |
2.88 |
AECO NG-ASH-ALB-SNL |
1.31 |
1.42 |
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 |
47.00 |
56.37 |
60.18 |
77.61 |
61.79 |
PJM West E-PJWHRTP-IX |
57.72 |
76.94 |
70.06 |
60.23 |
54.47 |
Mid-Columbia (Mid C) W-MIDCP-IDX |
4.61 |
0.13 |
42.59 |
44.81 |
68.96 |
Palo Verde W-PVP-IDX |
18.43 |
20.17 |
38.53 |
34.82 |
59.94 |
South Path-15 (SP-15) W-SP15-IDX |
2.58 |
4.56 |
22.51 |
28.44 |
53.02 |