US natgas climbs to more than one-month high on warmer forecasts ahead of storage data (updated)

Cheniere Energy

26/08/2026 21:03

Adds latest prices and details about Corpus Christi plant in paragraph 10
By Sumit Saha
Aug 26 (Reuters) - U.S. natural gas futures rose over 5% to hit a more than one-month high on Wednesday, as forecasts for warmer-than-normal temperatures extending into September lifted expectations for cooling demand ahead of the closely watched EIA's storage report due this week.
Front-month gas futures for September delivery NGc1 on the New York Mercantile Exchange rose 7.2 cents, or 2.6%, to settle at $2.842 per million British thermal units. Earlier in the session, the contract gained more than 5% to $2.911 per mmBtu, its highest level since July 24.
Futures for October NGc2, which will soon be the front-month contract, settled at $2.874 per mmBtu.
"This show of strength since early yesterday has been driven mainly by some further adjustments to the short-term temperature forecasts that are stretching well into next month," consultancy Ritterbusch & Associates said, while also noting that with the arrival of the shoulder season next month, the influence of the temperature factor will soon wane.
     Meteorologists forecast mostly warmer-than-normal temperatures through September 11, as Cooling Degree Days rose to 209 on Wednesday. CCDs, which measure energy demand to cool buildings, have been above normal with only around 116 this time last year.
Investors now await the U.S. Energy Information Administration's weekly gas storage report, which is due on Thursday.
     U.S. energy firms likely added 25 billion cubic feet of natural gas into storage last week, according to the average estimate in a Reuters poll. That figure compares with an injection of 17 bcf during the same week last year and a five-year average increase of 33 bcf. EIA/GAS
       
SUPPLY AND DEMAND
LSEG said average gas output in the U.S. Lower 48 states has reached 111.4 billion cubic feet per day so far in August, up from a monthly record high of 110.7 bcfd in July.
U.S. LNG producer Cheniere Energy's LNG.N Corpus Christi export plant in Texas appeared to be returning to full production on Wednesday after undergoing planned maintenance, as natural gas nominations to the facility rose to about 2.5 billion cubic feet per day, according to preliminary data from financial firm LSEG.
Average gas flows to the nine big U.S. LNG export plants stand at 17.1 bcfd so far in August, slightly down from 17.2 bcfd in July and a monthly record high of 17.4 bcfd in June.
LSEG projected average gas demand in the Lower 48 states, including exports, would slip slightly from 111.8 bcfd this week to 111.5 bcfd next week.
"This week’s upswing in production has come in addition to a down-tick in exports that will likely limit further upside follow-through," Ritterbusch added.
Meanwhile, Dutch and British gas prices continued to fall, extending a decline that started on Tuesday as Iran said it had started talks with Oman about reopening the Strait of Hormuz. NG/EU

 
Week ended Aug 21 Forecast
Week ended  Aug 14 Actual
Year ago Aug 21 
Five-year average (2021-2025) Aug 21
 
 
U.S. weekly natgas storage change (bcf):
+25
+16
+17
+33
 
U.S. total natgas in storage (bcf):
3,194
3,169
3,214
3,017
 
U.S. total storage versus 5-year average
+6.0%
+6.2%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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
2.84
2.78
2.89
3.62
3.79
Title Transfer Facility (TTF) TRNLTTFMc1
22.08
22.89
11.13
11.94
18.51
Japan-Korea Marker (JKM) JKMc1
23.32
23.51
11.63
12.24
18.12
 
 
 
 
 
 
 
 
 
 
 
 
LSEG U.S. Global Forecast System (GFS) Heating, Cooling and Total Degree Days 
 
 
 
 
 
Total Two-Week Forecast
Current Day
Prior Day
Prior Year
10-Year Norm
30-Year Norm
U.S. GFS Heating Degree Days (HDD)
6
6
19
9
10
U.S. GFS Cooling Degree Days (CDD)
209
207
116
149
138
U.S. GFS Total Degree Days (TDD)
215
213
135
158
148
 
 
 
 
 
 
LSEG U.S. Weekly GFS Supply and Demand Forecasts
 
 
 
 
 
 
Prior Week
Current Week
Next Week
This Week Last Year
Five-Year (2021-2025) Average for Month
U.S. Supply (bcfd)
 
 
 
 
 
U.S. Lower 48 Dry Production
112.1
110.9
111.1
N/A
101.7
U.S. Imports from Canada
6.9
6.7
7.5
N/A
7.7
U.S. LNG Imports
0.0
0.0
0.0
N/A
0.0
Total U.S. Supply
118.9
117.6
118.5
N/A
109.4
 
 
 
 
 
 
U.S. Demand (bcfd)
 
 
 
 
 
U.S. Exports to Canada
2.5
2.6
2.6
N/A
2.3
U.S. Exports to Mexico
7.5
7.7
7.6
N/A
6.7
U.S. LNG Export Feedgas
17.2
16.8
17.2
N/A
11.4
U.S. Commercial
4.6
4.6
4.7
N/A
4.7
U.S. Residential
3.4
3.5
3.4
N/A
3.4
U.S. Power Plant
49.5
46.9
46.2
N/A
45.3
U.S. Industrial
21.8
21.8
21.9
N/A
21.1
U.S. Plant Fuel
5.5
5.5
5.5
N/A
5.3
U.S. Pipe Distribution
2.3
2.3
2.2
N/A
3.2
U.S. Vehicle Fuel
0.1
0.1
0.1
N/A
0.2
Total U.S. Consumption
87.3
84.7
84.1
N/A
83.2
Total U.S. Demand
114.5
111.8
111.5
N/A
103.6
 
 
 
 
 
 
N/A = Not Available
 
 
 
 
 
 
 
 
 
 
 
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 
82
82
76
74
83
Jan-Jul
90
90
78
76
77
Oct-Sep
93
93
80
77
76
 
 
 
 
 
 
U.S. weekly power generation percent by fuel - EIA
 
 
 
 
 
 
Week ended Aug 28
Week ended Aug 21
2025
2024
2023
Wind
8
6
11
11
10
Solar
9
8
6
5
4
Hydro
4
4
6
6
6
Other
1
1
1
1
2
Petroleum
0
0
0
0
0
Natural Gas
44
45
40
42
41
Coal
17
18
18
16
17
Nuclear
17
16
18
19
19
 
 
 
 
 
 
SNL U.S. Natural Gas Next-Day Prices ($ per mmBtu)
 
 
 
 
 
Hub
Current Day
Prior Day
This Month Last Year
Prior Year Average 2025
Five-Year Average (2021-2025)
Henry Hub NG-W-HH-SNL
2.70
2.83
2.91
3.52
3.72
Transco Z6 New York NG-CG-NY-SNL
1.40
1.57
2.23
3.53
3.56
PG&E Citygate NG-CG-PGE-SNL
3.76
3.73
3.23
3.42
5.47
Eastern Gas (formerly Dominion South) NG-PCN-APP-SNL
1.39
1.50
2.06
2.79
2.96
Chicago Citygate NG-CG-CH-SNL
2.47
2.50
2.63
3.23
3.60
Algonquin Citygate NG-CG-BS-SNL
1.74
1.72
2.55
6.08
5.04
SoCal Citygate NG-SCL-CGT-SNL
4.57
4.40
3.41
3.60
5.71
Waha Hub NG-WAH-WTX-SNL
1.89
1.98
1.57
1.03
2.88
AECO NG-ASH-ALB-SNL
1.21
1.19
0.51
1.13
2.13
 
 
 
 
 
 
Intercontinental Exchange (ICE) U.S. Power Next-Day Prices ($ per megawatt-hour)
 
 
 
 
 
Hub
Current Day
Prior Day
This Month Last Year
Prior Year Average 2025
Five-Year Average (2021-2025)
New England E-NEPLMHP-IDX
49.89
47.01
59.26
77.12
61.67
PJM West E-PJWHRTP-IX
51.84
40.59
46.80
60.23
54.47
Mid-Columbia (Mid C) W-MIDCP-IDX
57.67
80.56
50.02
44.81
68.96
Palo Verde W-PVP-IDX
97.82
93.38
51.19
34.82
59.94
South Path-15 (SP-15) W-SP15-IDX
78.96
69.11
38.33
28.44
53.02

 (Reporting by Sumit Saha in Bengaluru;Editing by Elaine Hardcastle and Deepa Babington)
 ((Sumit.Saha@thomsonreuters.com;))