September 8, 2022

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Gas Markets

Market Watch

A three-session $1.42 slide by October gas futures to below $8 per million Btu was arrested Thursday in the wake of a bullish storage build. The October gas contract rose 7.3¢ to $7.915/MMBtu. The 12-month strip rose 5.6¢ to $6.581; the 2023 calendar strip was up 3.5¢ to $5.986 (Futures contracts).

More robust builds are expected to resume in the last two weeks of September, but heavy gas burns stemming from a blistering western US heat wave should dampen next week's storage data. However, rising domestic production averaging 99.8 Bcf/d this week, the ongoing 2 Bcf/d Freeport LNG outage and the inevitability of cooler fall conditions could still send storage inventories above a just adequate 3.4 trillion cubic feet by Oct. 31, the Energy Information Administration said.

WTI October crude rose $1.60 to $83.54/bbl.

* * *

The EIA reported a seasonably small 54 Bcf storage build for the week ended Sep. 2, increasing net working gas inventories to 2,694 Bcf. The injection compares with a five-year average injection of 65 Bcf and a year-ago build of 48 Bcf. The deficit to the five-year average climbed to 349 Bcf, or 11.5%. The deficit to last year fell to 222 Bcf, or 7.6%. Next week's data is expected to show a 64 Bcf injection versus a five-year average of 82 Bcf (Storage).

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Emerson saw the most significant price move of the day, rising 97¢ to $6.50. This compared to benchmark Henry Hub cash prices that were down 4¢ at $8.08. In the Northeast, Transco zone 6 New York went down 22¢ to average $7.38, while Boston-area Algonquin declined 17¢ to average $7.46. In West Texas, cash prices at the Permian's Waha Hub rose 22¢ to average $6.92. Meanwhile, Rockies leader Kern/Opal fell 3¢ to $7.66, SoCal Citygate declined 87¢ to average $12.09 and Northwest Sumas lost 39¢ to average $7.40. In Canada, Alberta benchmark Aeco rose 48¢ to $3.58 (Daily cash prices).
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Anti-pipeline activists from across the lower 48 and Alaska were set to come to the US Capitol Thursday to urge lawmakers to scrub the controversial Mountain Valley Pipeline from a commitment Democratic lawmakers made to advance President Joe Biden's climate law. In a deal aimed at expediting energy infrastructure projects, most notably MVP construction, US Sen. Joe Manchin. (D-West Virginia) agreed to support the climate measure on the condition that Senate Democrats ease permitting requirements. MVP has been stalled since 2018 as it works to regain key federal permits. The 2 Bcf/d capacity line runs from West Virginia to southern Virginia.

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Price Notice: Due to a revision by a data provider, Energy Intelligence is revising its daily pricing for Iroquois Zone 2 for trade day Sep. 7, 2022:

The revised pricing is: Low: $7.72; High: $7.80; Average: $7.76; Volume: 34,100 and Deals: 6.

Tom Haywood, Houston and Everett Wheeler, Washington

Natural Gas Spot Prices

Top 5 Upward & Downward Price Movements
EmersonAECOWestcoast Station 2EmpressKingsgateNW SumasSoCal CitygateKern - Wheeler RidgeKern River DeliveredEl Paso - South Mainline-10%-5%0%5%10%15%20%EmersonAECOWestcoast Station 2EmpressKingsgateNW SumasSoCal CitygateKern - Wheeler RidgeKern River DeliveredEl Paso - South Mainline
Note: Sep 8' 22 versus prior day price: points moving up (17), down (59).
Natural Gas Spot Prices
Trade Date: Sep. 8, 2022 / Flow Date: Sep. 9, 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 GasTransmissionCo.Natural GasPipeline Co.NorthwestPipelineNOVA GasTransmissionLtdPanhandleEasternPipeline Co.Tennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipelineCompany, LLC051015202530354045Algonquin GasTransmissionColumbia GasTransmissionEl Paso NaturalGasKern River GasTransmissionCo.Natural GasPipeline Co.NorthwestPipelineNOVA GasTransmissionLtdPanhandleEasternPipeline Co.Tennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipelineCompany, LLC
Critical Notices

Natural Gas Futures

Nymex Henry Hub Future Price Curves
Sep 8, '22
Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23Aug'23Sep'23($/MMBtu)55.566.577.588.599.5Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23Aug'23Sep'23CurrentLast Month
Henry Hub
Change from prior day, Sep 7 '22

Storage Report

North American Natural Gas Storage
Sep 8, '22
57%79%60%Lower 48CanadaLower 48 & Canada(BCF)050010001500200025003000350040004500500055006000Lower 48CanadaLower 48 & Canada
Note: The value shown in the bars represents the percentage full.
North American Weekly Gas Storage
Sources: US-EIA. Canada-RBN Energy. Values in Bcf unless otherwise noted.


Related Markets

Comparative Fuels

Comparative Fuels
Prices for Sep 8 '22

Spot Cash Electricity Prices

Spot Cash Electricity Prices
Today's prices as of Sep 7 '22

Gas Needed to Replace Offline Nuclear Capacity

Gas Needed to Replace Off Line Nuclear Capacity
63468590210401129956114212401279Aug 31Sep 1Sep 2Sep 3Sep 4Sep 5Sep 6Sep 7Sep 8(MMcf/d)0200400600800100012001400Aug 31Sep 1Sep 2Sep 3Sep 4Sep 5Sep 6Sep 7Sep 8NortheastSoutheastTexasUpper 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)
1 Sep 22 2 Sep 22 3 Sep 22 4 Sep 22 5 Sep 22 6 Sep 22 7 Sep 22100002000030000400005000060000700008000090000 1 Sep 22 2 Sep 22 3 Sep 22 4 Sep 22 5 Sep 22 6 Sep 22 7 Sep 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
30 Aug31 Aug 1 Sep 2 Sep 3 Sep 4 Sep 5 Sep 6 Sep 7 Sep(MW)010002000300040005000600070008000(MMcf/d)1300140015001600170018001900200030 Aug31 Aug 1 Sep 2 Sep 3 Sep 4 Sep 5 Sep 6 Sep 7 SepCAISO 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
29 Aug30 Aug31 Aug 1 Sep 2 Sep 3 Sep 4 Sep 5 Sep 6 Sep 7 Sep(MW)01000200030004000500060007000800090001000011000(MMcf/d)40060080010001200140016001800200022002400260029 Aug30 Aug31 Aug 1 Sep 2 Sep 3 Sep 4 Sep 5 Sep 6 Sep 7 SepWind 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
29 Aug30 Aug31 Aug 1 Sep 2 Sep 3 Sep 4 Sep 5 Sep 6 Sep 7 Sep(MW)01000200030004000500060007000(MMcf/d)8009001000110012001300140015001600170018001900200029 Aug30 Aug31 Aug 1 Sep 2 Sep 3 Sep 4 Sep 5 Sep 6 Sep 7 SepPJM 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
1851841921821781691591422September3September4September5September6September7September8September9September0204060801001201401601802002September3September4September5September6September7September8September9SeptemberCDDHDDCDD 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 2°
Orlando 0°
Boston 0°
Washington 1°
Seattle -4°
Philadelphia 3°
Nashville -1°
Minneapolis 20°
Los Angeles 11°
Las Vegas 9°
Detroit 6°
Denver 21°
Austin 1°
Atlanta -2°
Southeast US
New York 2°
Orlando 0°
Boston 0°
Washington 1°
Seattle -4°
Philadelphia 3°
Nashville -1°
Minneapolis 20°
Los Angeles 11°
Las Vegas 9°
Detroit 6°
Denver 21°
Austin 1°
Atlanta -2°

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