Why Record Heat Failed to Lift U.S. Natural Gas Prices
Natural Gas Prices Julianne Geiger is a veteran energy journalist and market analyst with more than a decade of experience covering the global oil and gas sector.
Her… Henry Hub natural gas averaged $2.93 per million British thermal units from June through August, 6% below the same period last year, even with the Lower 48 posting its hottest July on record.
Average temperatures across the Lower 48 reached 77°F in July, according to NOAA, pushing electricity demand higher as air conditioners ran harder.
Solar and wind took a large share of that extra power demand.
Solar generation increased by an estimated 19.4 billion kilowatt-hours from June through August compared with the same period in 2025, according to the Energy Information Administration.
Natural gas-fired generation increased by 7.5 BkWh.
The increase from wind and solar was nearly four times the increase from natural gas-fired generation during the summer.
Gas supply was alsorunning aheadof last year.
dry natural gas production averaged 2.7 billion cubic feet per day more from June through August, a 2% increase, with the Permian among the biggest sources of growth.
EIA expects dry gas production to average a record 111.2 Bcf/d for 2026.
Storage entered the April injection season with 1.906 trillion cubic feet of working gas, 4% above the previous five-year average.
Monthly injections beat their respective five-year averages in every month through August except May.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
Comments
Post a Comment