July 1, 2022

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Gas Markets

Market Watch

August natural gas futures on Friday regained about a third of the prior day’s massive loss, settling 30.6¢ higher at $5.73 per million Btu. The pre-weekend rally “is somewhat a result of calmer minds taking over the market, as the front month attempts to balance out some of yesterday’s move,” Gelber & Associates analysts said. Friday’s gains “can also be justified through higher weather demand as a result of updated forecasts as well as higher LNG demand from Sabine Pass, which has been flowing at reduced volumes.” The 12-month strip rose 19.8¢ to $5.284; the 2023 strip gained 6.8¢ to $4.762 (Futures Contracts).

WTI August crude futures rose $2.67 to settle at $108.43/bbl.

* * *

Algonquin saw the most significant cash price move of the day, falling $1.40 to $5.13. This compared to benchmark Henry Hub cash prices that were down 80¢ at $5.72. In the Northeast, Transco zone 6 New York went down 75¢ to average $5.18. In West Texas, cash prices at the Permian's Waha Hub fell 82¢ to average $5.14. Meanwhile, Rockies leader Kern/Opal fell 96¢ to $5.19, SoCal Citygate declined $1.00 to average $5.39. In Canada, Alberta benchmark Aeco fell 18¢ to $3.89.

* * *

The US rig count fell three to 750 last week, up 275 from a year ago. Gas-directed rigs fell four to 153, up 54 from a year ago, while oil rigs climbed one to 595, up 219 from a year ago. The data show the bulk of the increase in year-over-year activity is in the Permian Basin, up 112 rigs to 349, followed distantly by the Eagle Ford Shale, up 36 to 68. The Haynesville Shale rig count is up 20 at 69.
Everett Wheeler, Houston and Mark Davidson, Washington

Bidweek Prices

Bidweek Price Table for July 2022
Flow Dates: 7/1-7/31
Citygate Prices

Natural Gas Spot Prices

Top 5 Upward & Downward Price Movements
     Kern River DeliveredPG&E SouthEl Paso - South MainlineTransco Station 65Algonquin-22%-20%-18%-16%-14%-12%-10%-8%-6%-4%-2%0%     Kern River DeliveredPG&E SouthEl Paso - South MainlineTransco Station 65Algonquin
Note: Jul 1' 22 versus prior day price: points moving up (0), down (74).
Natural Gas Spot Prices
Trade Date: Jul. 1, 2022 / Flow Dates: Jul. 2-5, 2022
The above figures refer to volume-weighted averages for gas deals done today for tomorrow's flow, or weekend delivery on Friday trading, at each particular spot. Change reflects the difference from the previous published price. Composites reflect volume-weighted average for all deals done in the regional grouping. Daily Composite Spot Wellhead is a volume-weighted average for all producing area pipelines less gathering and processing costs. All prices are in $/MMBtu.

Critical Notices

Sort:
Count of Critical Notices in Last 7 Days
Algonquin GasTransmissionColumbia GasTransmissionEl Paso NaturalGasKern River GasTransmission Co.Natural GasPipeline Co.NorthwestPipelineNOVA GasTransmission LtdTennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipelineCompany, LLC05101520253035404550Algonquin GasTransmissionColumbia GasTransmissionEl Paso NaturalGasKern River GasTransmission Co.Natural GasPipeline Co.NorthwestPipelineNOVA GasTransmission LtdTennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipelineCompany, LLC
Critical Notices

Natural Gas Futures

Nymex Henry Hub Future Price Curves
Jul 1, '22
Aug'22Sep'22Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23($/MMBtu)44.555.566.577.588.59Aug'22Sep'22Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23CurrentLast Month
Henry Hub
Change from prior day, Jun 30 '22

Baker Hughes Rig Count

Baker Hughes US Gas Rig Count
7 Jan 2214 Jan 2221 Jan 2228 Jan 22 4 Feb 2211 Feb 2218 Feb 2225 Feb 22 4 Mar 2211 Mar 2218 Mar 2225 Mar 22 1 Apr 22 8 Apr 2215 Apr 2222 Apr 2229 Apr 22 6 May 2213 May 2220 May 2227 May 22 3 Jun 2210 Jun 2217 Jun 2224 Jun 22 1 Jul 22 8 Jul 2215 Jul 2222 Jul 2229 Jul 22 5 Aug 2212 Aug 2219 Aug 2226 Aug 22 2 Sep 22 9 Sep 2216 Sep 2223 Sep 2230 Sep 22 7 Oct 2214 Oct 2221 Oct 2228 Oct 22 4 Nov 2211 Nov 2218 Nov 2225 Nov 22 2 Dec 22 9 Dec 2216 Dec 2223 Dec 2230 Dec 2260708090100110120130140150160 7 Jan 2214 Jan 2221 Jan 2228 Jan 22 4 Feb 2211 Feb 2218 Feb 2225 Feb 22 4 Mar 2211 Mar 2218 Mar 2225 Mar 22 1 Apr 22 8 Apr 2215 Apr 2222 Apr 2229 Apr 22 6 May 2213 May 2220 May 2227 May 22 3 Jun 2210 Jun 2217 Jun 2224 Jun 22 1 Jul 22 8 Jul 2215 Jul 2222 Jul 2229 Jul 22 5 Aug 2212 Aug 2219 Aug 2226 Aug 22 2 Sep 22 9 Sep 2216 Sep 2223 Sep 2230 Sep 22 7 Oct 2214 Oct 2221 Oct 2228 Oct 22 4 Nov 2211 Nov 2218 Nov 2225 Nov 22 2 Dec 22 9 Dec 2216 Dec 2223 Dec 2230 Dec 22202020212022
Gas Rigs by Basin
Rig Count as of Jul 1 '22. Source: Baker Hughes


Related Markets

Comparative Fuels

Comparative Fuels
Prices for Jul 1 '22

Spot Cash Electricity Prices

Spot Cash Electricity Prices
Today's prices as of Jun 30 '22

Gas Needed to Replace Offline Nuclear Capacity

Gas Needed to Replace Off Line Nuclear Capacity
4944431099964924847517443626Jun 23Jun 24Jun 25Jun 26Jun 27Jun 28Jun 29Jun 30Jul 1(MMcf/d)02004006008001000120014001600Jun 23Jun 24Jun 25Jun 26Jun 27Jun 28Jun 29Jun 30Jul 1NortheastSoutheastTexasUpper MidwestWestTotalYear-Ago
Note: Source: US Nuclear Regulatory Commission's Daily Power Reactor Status Report and Energy Intelligence,Historical data available via EI New Energy Data

Gas Prices, Power Prices and Spark Spreads for Major Hubs

Marginal Heat Rates (Btu/kWh)
24 Jun 2225 Jun 2226 Jun 2227 Jun 2228 Jun 2229 Jun 2230 Jun 2260008000100001200014000160001800024 Jun 2225 Jun 2226 Jun 2227 Jun 2228 Jun 2229 Jun 2230 Jun 22Malin/COBSocal/Palo VerdeAlgonquin/NE PoolHouston SC - Katy/ErcotStanfield/Mid-Col.TZ6 NNY/PJM W
Note: Indicates the threshold heat rate for each gas/power pair. Below the MHR, gas-fired generation may be more cost effective vs. purchased power above. For holidays and weekends, the previous business day's values are displayed.
Gas, Power Prices & Spark Spreads for Generators Major Hubs

Renewable Energy

Gas Equivalent of Caiso Wind and Solar Output
22 Jun23 Jun24 Jun25 Jun26 Jun27 Jun28 Jun29 Jun30 Jun(MW)01000200030004000500060007000800090001000011000(MMcf/d)120014001600180020002200240022 Jun23 Jun24 Jun25 Jun26 Jun27 Jun28 Jun29 Jun30 JunCAISO Solar PVCAISO Solar ThermalCAISO WindTOTAL gas equivalent (MMcf/d)TOTAL gas equivalent (MMcf/d) - Last Year
Note: Historical data available via EI New Energy Data
Note: Historical data available via EI New Energy Data



Gas Equivalent of Ercot Wind Output
21 Jun22 Jun23 Jun24 Jun25 Jun26 Jun27 Jun28 Jun29 Jun30 Jun(MW)0200040006000800010000120001400016000(MMcf/d)5001000150020002500300035004000450021 Jun22 Jun23 Jun24 Jun25 Jun26 Jun27 Jun28 Jun29 Jun30 JunWind Generation (MW)Gas equivalent (MMcf/d)Gas equivalent (MMcf/d) - Last Year
Note: Historical data available via EI New Energy Data
Note: Historical data available via EI New Energy Data



Gas Equivalent of PJM Renewable Output
21 Jun22 Jun23 Jun24 Jun25 Jun26 Jun27 Jun28 Jun29 Jun30 Jun(MW)0100020003000400050006000700080009000(MMcf/d)800900100011001200130014001500160017001800190021 Jun22 Jun23 Jun24 Jun25 Jun26 Jun27 Jun28 Jun29 Jun30 JunPJM SolarPJM HydroPJM WindPJM Other RenewablesTOTAL gas equivalent (MMcf/d)TOTAL gas equivalent (MMcf/d) - Last Year
Note: Historical data available via EI New Energy Data
Note: Historical data available via EI New Energy Data




Weather

Today's Short-Term Weather Forecast

Atlanta
Austin
Denver
Detroit
Las Vegas
Los Angeles
Minneapolis
Nashville
Philadelphia
Seattle
Washington
Boston
Orlando
New York
Leaflet | Weather from OpenWeatherMap
To change the layers on the map, click the icon to the left and choose the layer you want to display.
Layers available on weather map:
  • Temperature:
    Current ground temperature(in Fahrenheit).
  • Clouds:
    Displays the positions of the current cloud cover.
  • Precipitation:
    Displays current amount of falling water in liquid, sleet or snow form (in inches).
  • Wind speed:
    Displays the current wind speed(in knots).
  • Sea Level Pressure:
    Displays the current pressure at sea level(in millibars).
  • Snow:
    Displays the daily snow fall(in inches).
  • Rain:
    Displays today’s amount of rain fall(in inches).

Degree Days

Degree Days
18419317514616819519218425 June26 June27 June28 June29 June30 June1 July2 July02040608010012014016018020025 June26 June27 June28 June29 June30 June1 July2 JulyCDDHDDCDD AvgHDD Avg
Note: Cooling Degree Days is the sum of temperature variances above 65 degrees for 14 cities: Atlanta, Georgia, Austin, Texas, Denver, Colorado, Detroit, Michigan, Las Vegas, Nevada, Los Angeles, California, Minneapolis, Minnesota, Nashville, Tenn, Philadelphia, Pennsylvania, Seattle, Washington, Washington, DC, Boston, Massachusetts, Orlando, Florida, New York, New York. Heating Degree Days is the sum of temperature variances below 65 degrees for those same 14 cities.
Degree Days


Regional °F Degree Day Differentials
Values listed are the previous days' difference from the 5-year degree day average.

Ex: A value of -4° indicates previous days' degree days were 4 degrees below the 5-year average.

Northeast US
New York 3°
Orlando 0°
Boston 3°
Washington 4°
Seattle 3°
Philadelphia 3°
Nashville 2°
Minneapolis 0°
Los Angeles 1°
Las Vegas 2°
Detroit 3°
Denver -3°
Austin 0°
Atlanta -2°
Southeast US
New York 3°
Orlando 0°
Boston 3°
Washington 4°
Seattle 3°
Philadelphia 3°
Nashville 2°
Minneapolis 0°
Los Angeles 1°
Las Vegas 2°
Detroit 3°
Denver -3°
Austin 0°
Atlanta -2°

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