US natgas slips on profit taking, but settles with weekly gain (updated)

Cheniere Energy

28/08/2026 20:18

Adds latest prices
By Sumit Saha
Aug 28 (Reuters) - U.S. natural gas futures edged lower on Friday as traders locked in profits ahead of the weekend after prices climbed to a more than one-month high in the previous session, though the contract logged a third consecutive weekly gain on forecasts for warmer weather.
On its first day as the front-month, gas futures for October delivery NGc1 on the New York Mercantile Exchange (NYMEX) fell 2.6 cents, or 0.9%, to settle at $2.888 per million British thermal units (mmBtu). The front-month contract posted a weekly gain of 4.2%.
"There's just some sell-side interest after the big price response we've seen this week. So probably a little repositioning or profit taking ahead of the weekend," said Robert DiDona, president of Energy Ventures Analysis.
"We don't expect this to turn into a larger sell-off. If anything, we might see some bid interest come back in towards the end of the day and push this price back towards a break-even level," added DiDona.
Meteorologists forecast mostly warmer-than-normal temperatures through September 11, as Cooling Degree Days stood at 208 on Friday, compared with 112 during the same period last year. CDDs measure energy demand to cool buildings.
        
SUPPLY AND DEMAND
The U.S. Energy Information Administration (EIA) on Thursday said energy firms added 15 billion cubic feet (bcf) of gas to storage during the week ended August 21. EIA/GAS
That figure was lower than the 20-bcf build analysts forecast in a Reuters poll and compares with an injection of 17 bcf during the same week a year ago and an average increase for that week of 33 bcf over the past five years (2021-2025). In the prior week ended August 14, energy firms added 16 bcf of gas to storage.
     Demand for U.S. natural gas from LNG export plants rose to the highest level since late April on Thursday as major Texas facilities like Cheniere Energy's LNG.N Corpus Christi plant and Freeport LNG returned to service from maintenance, according to preliminary data from LSEG.
Financial group 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.
Average gas flows to the nine big U.S. LNG export plants stand at 17.2 bcfd so far in August, little changed 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 from 112.7 bcfd this week to 111.1 bcfd next week.
"Looking ahead, we continue to see the potential for a milder winter this year given the prospects of a very strong El Nino," analysts at J.P. Morgan said in a note.
Elsewhere, Benchmark Dutch and British wholesale gas prices firmed amid a lack of diplomacy between the United States and Iran to support an opening of the Strait of Hormuz and rising concerns over European winter gas supply. NG/EU
       

 
Week ended Aug 28 Forecast
Week ended  Aug 21 Actual
Year ago Aug 28 
Five-year average (2021-2025) Aug 28
 
 
U.S. weekly natgas storage change (bcf):
+34
+15
+50
+37
 
U.S. total natgas in storage (bcf):
3,218
3,184
3,264
3,054
 
U.S. total storage versus 5-year average
+5.4%
+5.5%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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
2.85
2.90
2.89
3.62
3.79
Title Transfer Facility (TTF) TRNLTTFMc1
23.38
23.11
11.13
11.94
18.51
Japan-Korea Marker (JKM) JKMc1
23.41
22.95
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)
8
8
18
10
11
U.S. GFS Cooling Degree Days (CDD)
208
210
112
144
133
U.S. GFS Total Degree Days (TDD)
216
218
130
154
144
 
 
 
 
 
 
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
110.6
110.5
N/A
101.7
U.S. Imports from Canada
6.9
7.0
7.4
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
118.0
N/A
109.4
 
 
 
 
 
 
U.S. Demand (bcfd)
 
 
 
 
 
U.S. Exports to Canada
2.5
2.5
2.6
N/A
2.3
U.S. Exports to Mexico
7.5
7.6
7.6
N/A
6.7
U.S. LNG Export Feedgas
17.2
18.0
17.4
N/A
11.4
U.S. Commercial
4.6
4.7
4.8
N/A
4.7
U.S. Residential
3.4
3.4
3.5
N/A
3.4
U.S. Power Plant
49.5
46.7
45.6
N/A
45.3
U.S. Industrial
21.8
21.8
21.8
N/A
21.1
U.S. Plant Fuel
5.5
5.5
5.5
N/A
5.3
U.S. Pipe Distribution
2.3
2.2
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
84.5
83.6
N/A
83.2
Total U.S. Demand
114.5
112.7
111.1
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 
83
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
7
6
11
11
10
Solar
8
8
6
5
4
Hydro
4
4
6
6
6
Other
1
1
1
1
2
Petroleum
0
0
0
0
0
Natural Gas
45
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
2.89
2.81
2.91
3.52
3.72
Transco Z6 New York NG-CG-NY-SNL
1.86
1.66
2.23
3.53
3.56
PG&E Citygate NG-CG-PGE-SNL
3.75
3.74
3.23
3.42
5.47
Eastern Gas (formerly Dominion South) NG-PCN-APP-SNL
1.68
1.51
2.06
2.79
2.96
Chicago Citygate NG-CG-CH-SNL
2.65
2.56
2.63
3.23
3.60
Algonquin Citygate NG-CG-BS-SNL
2.05
2.12
2.55
6.08
5.04
SoCal Citygate NG-SCL-CGT-SNL
4.70
4.76
3.41
3.60
5.71
Waha Hub NG-WAH-WTX-SNL
2.18
2.07
1.57
1.03
2.88
AECO NG-ASH-ALB-SNL
1.16
1.30
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
57.73
50.60
59.26
77.12
61.67
PJM West E-PJWHRTP-IX
55.05
62.87
46.80
60.23
54.47
Mid-Columbia (Mid C) W-MIDCP-IDX
49.23
62.83
50.02
44.81
68.96
Palo Verde W-PVP-IDX
79.08
100.25
51.19
34.82
59.94
South Path-15 (SP-15) W-SP15-IDX
61.04
78.59
38.33
28.44
53.02

 (Reporting by Sumit Saha in Bengaluru
Editing by Nick Zieminski and David Gregorio)
 ((Sumit.Saha@thomsonreuters.com;))