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August 14, 2023

August 2023 - Energy News

Across the globe, unseasonably warm temperatures are influencing the natural gas market. This trend is being observed in various regions, affecting energy dynamics and consumption patterns.

Domestic Demand  

There has been a surge in demand across the U.S. due to the warmer than average summer we are experiencing. This heightened demand is largely attributed to the necessity of using natural gas for electricity generation to power cooling systems. Data S&P Global Commodity reveals that natural gas consumption for power generation has reached all-time levels averaging 44.6 billion cubic feet (Bcf) per day.

International Demand    

Despite sweltering heat waves and a slight uptick in European prices, the liquefied natural gas (LNG) market is anticipated to experience subdued activity as buyers and U.S. producers diligently try to predict future supply and demand.

When it comes to exporting natural gas to Mexico, there was a decrease of 2.6 percent or 0.2 billion cubic feet per day. Additionally, the amount of natural gas delivered to U.S. facilities for LNG exports was around 12.2 billion cubic feet per day.

Production & Supply  

Week by week, natural gas production in the United States has been slowly decreasing. Right now, the U.S. has 128 natural gas rigs in operation which is down 20 percent compared to last year. The aim behind this is to balance prices with production. However, it's worth mentioning that U.S. storage levels are still 11 percent higher than the five-year average.

As we approach late August and October keep in mind this is peak hurricane season.  On August 3rd, the National Oceanic and Atmospheric Administration (NOAA) updated their hurricane prediction to above average. Hurricanes have historically triggered upward shifts in natural gas prices due to potential damage to offshore production in the Gulf of Mexico.

Market Data:

August 14, 2023

Weekly Natural Gas Storage (Values listed in Bcf)
Year to Year 5-year average
Region 8/4//23 8/4/22 net change Bcf net change
East 700 562 24.60 622 12.5
Midwest 793 660 20.30 708 12.3
Mountain 196 148 32.40 169 16.0
Pacific 233 252 -7.50 264 -11.70
South Central 1,108 873 26.90 963 15.10
Total 3,030 2,495 21.40 2,725 11.20
CME (Henry Hub) Natural Gas Futures (Values listed in dekatherms) 
Date Price
8/4/23 $2.53
7/5/23 $2.65
6/6/23 $1.95
5/9/23 $2.22
4/11/23 $2.19
3/3/23 $2.50
2/7/23 $2.35
1/4/23 $3.75
12/1/22 $6.03
11/1/22 $4.57
10/12/22 $6.60
9/13/22 $8.49
8/9/222 $7.87
7/12/22 $6.81
6/14/22 $7.68
5/17/22 $8.26
4/4/22 $5.72
3/7/22 $4.93
2/8/22 $4.30
1/11/22 $4.16
12/7/21 $3.60
11/5/21 $5.33
10/4/21 $5.80
9/13/21 $5.21
8/13/21 $3.95
7/6/21 $3.68
https://www.eia.gov/dnav/ng/hist/rngwhhdD.htm
Utility Costs of Gas (Values listed in dekatherms)
Month Mid American - IA Alliant - IA Black Hills - IA Black Hills - NE Xcel Small Volume Xcel Large Volume Kansas Gas Service Midwest Energy
August '23 $3.01 $7.89 $2.56 $3.96 $3.34 $3.29 $8.83 $3.71
July '23 $2.41 $7.83 $2.69 $3.96 $3.34 $3.29 $9.57 $3.16
June '23 $3.64 $7.98 $1.69 $3.57 $4.19 $4.14 $8.23 $3.09
May '23 $3.56 $7.94 $3.51 $4.85 $4.19 $4.14 $8.85 $4.64
April '23 $3.17 $5.75 $4.95 $6.21 $4.19 $4.14 $8.94 $5.19
March '23 $4.18 $7.93 $7.43 $8.61 $4.60 $4.48 $8.46 $7.90
February '23 $5.71 $9.00 $9.02 $9.08 $5.98 $5.91 $9.07 $10.05
January '23 $7.34 $7.90 $10.29 $10.49 $7.87 $7.80 $9.60 $9.99
December '22 $7.49 $8.72 $9.01 $8.76 $10.04 $9.99 $8.89 $7.77
November '22 $6.58 $8.54 $7.34 $7.82 $10.04 $9.99 $9.21 $7.89
October '22 $6.16 $8.06 $6.72 $6.76 $10.04 $9.99 $12.21 $10.76
September '22 $9.60 $9.33 $9.27 $9.65 $9.38 $9.32 $12.26 $10.86
August '22 $5.79 $5.09 $6.50 $9.26 $9.38 $9.32 $10.36 $8.89
July '22 $6.45 $3.08 $4.54 $7.22 $9.38 $9.32 $10.99 $10.05
June '22 $10.33 $9.48 $4.97 $9.18 $5.27 $5.22 $9.80 $9.41
May '22 $9.16 $6.34 $5.50 $6.69 $5.27 $5.22 $8.61 $7.90
April '22 $9.81 $5.56 $6.78 $6.03 $5.27 $5.22 $8.22 $7.03
March '22 $9.29 $6.62 $6.78 $5.53 $4.93 $4.87 $8.35 $8.43
February '22 $9.25 $8.01 $6.86 $5.95 $4.93 $4.87 $7.58 $7.96
January '22 $9.36 $8.01 $7.10 $6.83 $4.93 $4.87 $7.46 $7.64
December '21 $9.76 $8.08 $6.27 $6.08 $5.31 $5.25 $7.49 $8.19
November '21 $9.67 $8.69 $6.49 $6.54 $5.31 $5.25 $6.46 $7.65
October '21 $9.25 $8.60 $6.69 $6.81 $5.31 $5.25 $6.22 $6.54
September '21 $7.99 $7.27 $5.51 $5.64 $4.11 $4.06 $5.85 $6.23
August '21 $7.53 $7.14 $5.06 $5.30 $4.11 $4.06 $5.55 $5.86
July '21 $7.11 $6.85 $4.94 $4.80 $4.11 $4.06 $5.11 $5.38
June '21 $6.35 $6.42 $4.97 $4.40 $3.38 $3.27 $5.08 NA
Local First of the Month Markets (Values listed in dekatherms)
Month NNG Ventura Chicago Citygates Colorado Interstate Gas SouthernStar Panhandle
August '23 $2.16 $2.22 $2.27 $2.12 $2.04
July '23 $2.29 $2.36 $2.45 $2.28 $2.24
June '23 $1.95 $1.98 $1.98 $1.87 $1.85
May '23 $1.90 $1.97 $1.94 $1.87 $1.81
April '23 $1.97 $2.01 $2.02 $1.89 $1.74
March '23 $2.59 $2.49 $2.27 $3.90 $5.74
February '23 $6.65 $4.44 $5.31 $5.20 $3.81
January '23 $7.98 $6.04 $8.63 $8.43 $5.74
December '22 $7.50 $7.00 $7.08 $6.88 $6.52
November '22 $4.97 $4.95 $4.88 $4.65 $4.48
October '22 $5.47 $5.68 $5.23 $5.41 $4.96
September '22 $8.55 $8.79 $8.54 $8.40 $8.29
August '22 $8.25 $8.45 $8.26 $8.08 $8.08
July '22 $6.20 $6.34 $5.84 $6.20 $8.00
June '22 $8.51 $8.72 $7.42 $8.50 $8.31
May '22 $6.87 $7.11 $6.13 $6.65 $6.62
April '22 $4.83 $5.10 $4.84 $4.77 $4.76
March '22 $4.52 $5.53 $4.35 $4.41 $4.62
February '22 $6.02 $7.02 $4.77 $6.68 $6.58
January '22 $7.21 $5.68 $5.38 $5.95 $5.38
December '21 $5.50 $5.62 $4.91 $5.59 $5.42
November '21 $5.95 $6.29 $4.57 $5.96 $6.01
October '21 $5.44 $5.70 $4.79 $5.58 $5.40
September '21 $4.01 $4.22 $3.67 $4.00 $3.96
August '21 $3.76 $3.89 $3.78 $3.78 $3.72
July '21 $3.41 $3.46 $3.16 $3.48 $3.33
June '21 $2.74 $2.85 $2.67 $2.83 $2.76

August 14, 2023

August 2023 - Energy News

Across the globe, unseasonably warm temperatures are influencing the natural gas market. This trend is being observed in various regions, affecting energy dynamics and consumption patterns.

Domestic Demand  

There has been a surge in demand across the U.S. due to the warmer than average summer we are experiencing. This heightened demand is largely attributed to the necessity of using natural gas for electricity generation to power cooling systems. Data S&P Global Commodity reveals that natural gas consumption for power generation has reached all-time levels averaging 44.6 billion cubic feet (Bcf) per day.

International Demand    

Despite sweltering heat waves and a slight uptick in European prices, the liquefied natural gas (LNG) market is anticipated to experience subdued activity as buyers and U.S. producers diligently try to predict future supply and demand.

When it comes to exporting natural gas to Mexico, there was a decrease of 2.6 percent or 0.2 billion cubic feet per day. Additionally, the amount of natural gas delivered to U.S. facilities for LNG exports was around 12.2 billion cubic feet per day.

Production & Supply  

Week by week, natural gas production in the United States has been slowly decreasing. Right now, the U.S. has 128 natural gas rigs in operation which is down 20 percent compared to last year. The aim behind this is to balance prices with production. However, it's worth mentioning that U.S. storage levels are still 11 percent higher than the five-year average.

As we approach late August and October keep in mind this is peak hurricane season.  On August 3rd, the National Oceanic and Atmospheric Administration (NOAA) updated their hurricane prediction to above average. Hurricanes have historically triggered upward shifts in natural gas prices due to potential damage to offshore production in the Gulf of Mexico.

Year to Year 5-year average
Region 8/4//23 8/4/22 net change Bcf net change
East 700 562 24.60 622 12.5
Midwest 793 660 20.30 708 12.3
Mountain 196 148 32.40 169 16.0
Pacific 233 252 -7.50 264 -11.70
South Central 1,108 873 26.90 963 15.10
Total 3,030 2,495 21.40 2,725 11.20

August 14, 2023

August 2023 - Energy News

Across the globe, unseasonably warm temperatures are influencing the natural gas market. This trend is being observed in various regions, affecting energy dynamics and consumption patterns.

Domestic Demand  

There has been a surge in demand across the U.S. due to the warmer than average summer we are experiencing. This heightened demand is largely attributed to the necessity of using natural gas for electricity generation to power cooling systems. Data S&P Global Commodity reveals that natural gas consumption for power generation has reached all-time levels averaging 44.6 billion cubic feet (Bcf) per day.

International Demand    

Despite sweltering heat waves and a slight uptick in European prices, the liquefied natural gas (LNG) market is anticipated to experience subdued activity as buyers and U.S. producers diligently try to predict future supply and demand.

When it comes to exporting natural gas to Mexico, there was a decrease of 2.6 percent or 0.2 billion cubic feet per day. Additionally, the amount of natural gas delivered to U.S. facilities for LNG exports was around 12.2 billion cubic feet per day.

Production & Supply  

Week by week, natural gas production in the United States has been slowly decreasing. Right now, the U.S. has 128 natural gas rigs in operation which is down 20 percent compared to last year. The aim behind this is to balance prices with production. However, it's worth mentioning that U.S. storage levels are still 11 percent higher than the five-year average.

As we approach late August and October keep in mind this is peak hurricane season.  On August 3rd, the National Oceanic and Atmospheric Administration (NOAA) updated their hurricane prediction to above average. Hurricanes have historically triggered upward shifts in natural gas prices due to potential damage to offshore production in the Gulf of Mexico.

Market Data:

August 14, 2023

Weekly Natural Gas Storage (Values listed in Bcf)
Year to Year 5-year average
Region 8/4//23 8/4/22 net change Bcf net change
East 700 562 24.60 622 12.5
Midwest 793 660 20.30 708 12.3
Mountain 196 148 32.40 169 16.0
Pacific 233 252 -7.50 264 -11.70
South Central 1,108 873 26.90 963 15.10
Total 3,030 2,495 21.40 2,725 11.20
CME (Henry Hub) Natural Gas Futures (Values listed in dekatherms) 
Date Price
8/4/23 $2.53
7/5/23 $2.65
6/6/23 $1.95
5/9/23 $2.22
4/11/23 $2.19
3/3/23 $2.50
2/7/23 $2.35
1/4/23 $3.75
12/1/22 $6.03
11/1/22 $4.57
10/12/22 $6.60
9/13/22 $8.49
8/9/222 $7.87
7/12/22 $6.81
6/14/22 $7.68
5/17/22 $8.26
4/4/22 $5.72
3/7/22 $4.93
2/8/22 $4.30
1/11/22 $4.16
12/7/21 $3.60
11/5/21 $5.33
10/4/21 $5.80
9/13/21 $5.21
8/13/21 $3.95
7/6/21 $3.68
https://www.eia.gov/dnav/ng/hist/rngwhhdD.htm
Utility Costs of Gas (Values listed in dekatherms)
Month Mid American - IA Alliant - IA Black Hills - IA Black Hills - NE Xcel Small Volume Xcel Large Volume Kansas Gas Service Midwest Energy
August '23 $3.01 $7.89 $2.56 $3.96 $3.34 $3.29 $8.83 $3.71
July '23 $2.41 $7.83 $2.69 $3.96 $3.34 $3.29 $9.57 $3.16
June '23 $3.64 $7.98 $1.69 $3.57 $4.19 $4.14 $8.23 $3.09
May '23 $3.56 $7.94 $3.51 $4.85 $4.19 $4.14 $8.85 $4.64
April '23 $3.17 $5.75 $4.95 $6.21 $4.19 $4.14 $8.94 $5.19
March '23 $4.18 $7.93 $7.43 $8.61 $4.60 $4.48 $8.46 $7.90
February '23 $5.71 $9.00 $9.02 $9.08 $5.98 $5.91 $9.07 $10.05
January '23 $7.34 $7.90 $10.29 $10.49 $7.87 $7.80 $9.60 $9.99
December '22 $7.49 $8.72 $9.01 $8.76 $10.04 $9.99 $8.89 $7.77
November '22 $6.58 $8.54 $7.34 $7.82 $10.04 $9.99 $9.21 $7.89
October '22 $6.16 $8.06 $6.72 $6.76 $10.04 $9.99 $12.21 $10.76
September '22 $9.60 $9.33 $9.27 $9.65 $9.38 $9.32 $12.26 $10.86
August '22 $5.79 $5.09 $6.50 $9.26 $9.38 $9.32 $10.36 $8.89
July '22 $6.45 $3.08 $4.54 $7.22 $9.38 $9.32 $10.99 $10.05
June '22 $10.33 $9.48 $4.97 $9.18 $5.27 $5.22 $9.80 $9.41
May '22 $9.16 $6.34 $5.50 $6.69 $5.27 $5.22 $8.61 $7.90
April '22 $9.81 $5.56 $6.78 $6.03 $5.27 $5.22 $8.22 $7.03
March '22 $9.29 $6.62 $6.78 $5.53 $4.93 $4.87 $8.35 $8.43
February '22 $9.25 $8.01 $6.86 $5.95 $4.93 $4.87 $7.58 $7.96
January '22 $9.36 $8.01 $7.10 $6.83 $4.93 $4.87 $7.46 $7.64
December '21 $9.76 $8.08 $6.27 $6.08 $5.31 $5.25 $7.49 $8.19
November '21 $9.67 $8.69 $6.49 $6.54 $5.31 $5.25 $6.46 $7.65
October '21 $9.25 $8.60 $6.69 $6.81 $5.31 $5.25 $6.22 $6.54
September '21 $7.99 $7.27 $5.51 $5.64 $4.11 $4.06 $5.85 $6.23
August '21 $7.53 $7.14 $5.06 $5.30 $4.11 $4.06 $5.55 $5.86
July '21 $7.11 $6.85 $4.94 $4.80 $4.11 $4.06 $5.11 $5.38
June '21 $6.35 $6.42 $4.97 $4.40 $3.38 $3.27 $5.08 NA
Local First of the Month Markets (Values listed in dekatherms)
Month NNG Ventura Chicago Citygates Colorado Interstate Gas SouthernStar Panhandle
August '23 $2.16 $2.22 $2.27 $2.12 $2.04
July '23 $2.29 $2.36 $2.45 $2.28 $2.24
June '23 $1.95 $1.98 $1.98 $1.87 $1.85
May '23 $1.90 $1.97 $1.94 $1.87 $1.81
April '23 $1.97 $2.01 $2.02 $1.89 $1.74
March '23 $2.59 $2.49 $2.27 $3.90 $5.74
February '23 $6.65 $4.44 $5.31 $5.20 $3.81
January '23 $7.98 $6.04 $8.63 $8.43 $5.74
December '22 $7.50 $7.00 $7.08 $6.88 $6.52
November '22 $4.97 $4.95 $4.88 $4.65 $4.48
October '22 $5.47 $5.68 $5.23 $5.41 $4.96
September '22 $8.55 $8.79 $8.54 $8.40 $8.29
August '22 $8.25 $8.45 $8.26 $8.08 $8.08
July '22 $6.20 $6.34 $5.84 $6.20 $8.00
June '22 $8.51 $8.72 $7.42 $8.50 $8.31
May '22 $6.87 $7.11 $6.13 $6.65 $6.62
April '22 $4.83 $5.10 $4.84 $4.77 $4.76
March '22 $4.52 $5.53 $4.35 $4.41 $4.62
February '22 $6.02 $7.02 $4.77 $6.68 $6.58
January '22 $7.21 $5.68 $5.38 $5.95 $5.38
December '21 $5.50 $5.62 $4.91 $5.59 $5.42
November '21 $5.95 $6.29 $4.57 $5.96 $6.01
October '21 $5.44 $5.70 $4.79 $5.58 $5.40
September '21 $4.01 $4.22 $3.67 $4.00 $3.96
August '21 $3.76 $3.89 $3.78 $3.78 $3.72
July '21 $3.41 $3.46 $3.16 $3.48 $3.33
June '21 $2.74 $2.85 $2.67 $2.83 $2.76

August 14, 2023

August 2023 - Energy News

Across the globe, unseasonably warm temperatures are influencing the natural gas market. This trend is being observed in various regions, affecting energy dynamics and consumption patterns.

Domestic Demand  

There has been a surge in demand across the U.S. due to the warmer than average summer we are experiencing. This heightened demand is largely attributed to the necessity of using natural gas for electricity generation to power cooling systems. Data S&P Global Commodity reveals that natural gas consumption for power generation has reached all-time levels averaging 44.6 billion cubic feet (Bcf) per day.

International Demand    

Despite sweltering heat waves and a slight uptick in European prices, the liquefied natural gas (LNG) market is anticipated to experience subdued activity as buyers and U.S. producers diligently try to predict future supply and demand.

When it comes to exporting natural gas to Mexico, there was a decrease of 2.6 percent or 0.2 billion cubic feet per day. Additionally, the amount of natural gas delivered to U.S. facilities for LNG exports was around 12.2 billion cubic feet per day.

Production & Supply  

Week by week, natural gas production in the United States has been slowly decreasing. Right now, the U.S. has 128 natural gas rigs in operation which is down 20 percent compared to last year. The aim behind this is to balance prices with production. However, it's worth mentioning that U.S. storage levels are still 11 percent higher than the five-year average.

As we approach late August and October keep in mind this is peak hurricane season.  On August 3rd, the National Oceanic and Atmospheric Administration (NOAA) updated their hurricane prediction to above average. Hurricanes have historically triggered upward shifts in natural gas prices due to potential damage to offshore production in the Gulf of Mexico.

August 14, 2023

August 2023 - Energy News

Across the globe, unseasonably warm temperatures are influencing the natural gas market. This trend is being observed in various regions, affecting energy dynamics and consumption patterns.

Domestic Demand  

There has been a surge in demand across the U.S. due to the warmer than average summer we are experiencing. This heightened demand is largely attributed to the necessity of using natural gas for electricity generation to power cooling systems. Data S&P Global Commodity reveals that natural gas consumption for power generation has reached all-time levels averaging 44.6 billion cubic feet (Bcf) per day.

International Demand    

Despite sweltering heat waves and a slight uptick in European prices, the liquefied natural gas (LNG) market is anticipated to experience subdued activity as buyers and U.S. producers diligently try to predict future supply and demand.

When it comes to exporting natural gas to Mexico, there was a decrease of 2.6 percent or 0.2 billion cubic feet per day. Additionally, the amount of natural gas delivered to U.S. facilities for LNG exports was around 12.2 billion cubic feet per day.

Production & Supply  

Week by week, natural gas production in the United States has been slowly decreasing. Right now, the U.S. has 128 natural gas rigs in operation which is down 20 percent compared to last year. The aim behind this is to balance prices with production. However, it's worth mentioning that U.S. storage levels are still 11 percent higher than the five-year average.

As we approach late August and October keep in mind this is peak hurricane season.  On August 3rd, the National Oceanic and Atmospheric Administration (NOAA) updated their hurricane prediction to above average. Hurricanes have historically triggered upward shifts in natural gas prices due to potential damage to offshore production in the Gulf of Mexico.

August 14, 2023

August 2023 - Energy News

Across the globe, unseasonably warm temperatures are influencing the natural gas market. This trend is being observed in various regions, affecting energy dynamics and consumption patterns.

Domestic Demand  

There has been a surge in demand across the U.S. due to the warmer than average summer we are experiencing. This heightened demand is largely attributed to the necessity of using natural gas for electricity generation to power cooling systems. Data S&P Global Commodity reveals that natural gas consumption for power generation has reached all-time levels averaging 44.6 billion cubic feet (Bcf) per day.

International Demand    

Despite sweltering heat waves and a slight uptick in European prices, the liquefied natural gas (LNG) market is anticipated to experience subdued activity as buyers and U.S. producers diligently try to predict future supply and demand.

When it comes to exporting natural gas to Mexico, there was a decrease of 2.6 percent or 0.2 billion cubic feet per day. Additionally, the amount of natural gas delivered to U.S. facilities for LNG exports was around 12.2 billion cubic feet per day.

Production & Supply  

Week by week, natural gas production in the United States has been slowly decreasing. Right now, the U.S. has 128 natural gas rigs in operation which is down 20 percent compared to last year. The aim behind this is to balance prices with production. However, it's worth mentioning that U.S. storage levels are still 11 percent higher than the five-year average.

As we approach late August and October keep in mind this is peak hurricane season.  On August 3rd, the National Oceanic and Atmospheric Administration (NOAA) updated their hurricane prediction to above average. Hurricanes have historically triggered upward shifts in natural gas prices due to potential damage to offshore production in the Gulf of Mexico.

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