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Natural Gas Market Report
Each month, Gas South puts together a natural gas market report to help simplify the updates you need to know about what's happening in the natural gas industry for your business. These updates include NYMEX settlement prices, storage information and more.
June 2025 Market Report
This month’s forecast is affected by yearly low natural gas prices in June due to mild weather and high storage levels, as well as a jump in the July futures contract based on the expected summer heat that’s predicted to boost demand.
May 2025 Market Report
This month’s forecast is affected by a reduced storage deficit, market uncertainty and recessionary fears that have increased volatility and potential impacts on demand.
April 2025 Market Report
This month’s forecast is affected by continued demand for LNG, expected growth of gas production, an increase in coal fuel competitiveness and a favorable shift in the regulatory landscape.
March 2025 Market Report
This month's forecast was impacted by draws from the nation's storage inventory, record LNG feedgas deliveries, and a flurry of executive orders.
February 2025 Market Report
Extreme weather swings broke records for heating degree days and residential demand, while the new administration promises to impact the energy landscape.
January 2025 Market Report
The NYMEX futures contracts surged to a two-year high due to cold spells and increased demand, peaking at $4.00/MMBtu before settling at $3.514/MMBtu, adding approximately 2.75% in value over the month.
December 2024 Market Report
A cold start to December drove the market upward as heaters kicked on across the country. We’re paying attention to the season’s impact on the ongoing storage glut, plus the potential shifts in policy and regulation that may come with the new presidential administration next month.
November 2024 Market Report
The NYMEX futures contract saw some downward pressure due to high storage levels and bearish weather forecasts. (Weather is the main driver of price movement and general market sentiment this time of year.) All in all, the future looks bright for the market, as projected demand is increasing at a clip not seen in over a century.
October 2024 Market Report
The futures contracts for October and November have risen steadily, mostly due to curtailed production, which echoes a pattern from earlier this year. We expect bullish price trends to continue if production picks up for the upcoming winter demand.
September 2024 Market Report
This is the second month in a row that the prompt month has settled below the $2.00/MMBtu mark due to milder weather forecasts, continued storage overhang, and relatively loose market fundamentals. Plus, the U.S. issued new sanctions against a Russian LNG project while it prepares to open its eighth major export facility.
August 2024 Market Report
August NYMEX futures contract settled below $2/MMBtu thanks to a one-two punch from increased production and the start of hurricane season impacting supply and demand. Plus—we briefed on a complex and politically charged Supreme Court decision.
July 2024 Market Report
The market saw increased volatility throughout June, culminating in a rally due to suspicion of above-normal temperatures nationwide. Futures contracts finally settled at $2.628/MMBtu. Learn more about these trends, plus—the implications of the Mountain Valley Pipeline service on index methodology.
June 2024 Market Report
This month saw an 80% increase from May’s price settlement, a lift that was amplified by pipeline maintenance across the Midwest and southeastern U.S. The price resurgence has prompted a pick-up in production activities, which is timely for tech giants, whose AI arms race is prompting extravagant demand for electricity generation.
May 2024 Market Report
A sizable gas storage surplus has dampened any price volatility for May, put production cuts, power generation demand increased and a warm summer could catalyze a front-month rally.
April 2024 Market Report
This past month, NYMEX prices remained relatively stable—and it gets better. We saw the second-lowest prompt month settlement in a decade, driven by an eight-year high in storage surplus levels.
March 2024 Market Report
With a warm-weather outlook and storage levels above the five-year maximum, the summer strip sees the NYEMX trading below $2.60/MMBtu for every month until October.
February 2024 Market Report
Some wild winter weather has been reflected in the month’s pricing outlook, with a cold bout causing price swings that spanned nearly $10. But with milder weather approaching, we’re now looking to the White House’s action on LNG exports to influence market trends.
December 2023 Market Report
Recent price dips are defying analyst expectations, due to mild weather and strong storage. But before we call it a trend, we’re keeping an eye on the dynamics in different regions and developments in transmission capacity agreements.
November 2023 Market Report
All eyes are on the weather, as total U.S. natural gas consumption has already risen over 16% due to increased demand. And prices are just as unpredictable as the temperature. Based on current market volatility, this winter’s futures are rangebound between $1.68-$6.89.
October 2023 Market Report
Forwards have been trending upward—in fact, we have not seen natural gas prices this high since last January. This volatility is due to a variety of domestic and global factors, as well as reports forecasting a significant consumption increase and demand for exports.
September 2023 Market Report
With a seasonal shift upon us, we’re seeing both record-breaking consumption levels due to late summer heat and dramatic price swings as the market prepares for cold-weather demand. Furthermore, recent events support natural gas’s significant role in the energy transition and increased demand in the coming years.
August 2023 Market Report
NYMEX forwards have stabilized, and the fundamentals inform a steady price sentiment in the near term. However, we’re noticing an unusual spread across the Southeast locational basis this summer, which may make hedging in these areas more commonplace.
May 2023 Market Report
Near-term NYMEX prices have retreated toward historic lows, down nearly 80% from last summer’s peak. Our trade desk is seeing bearish fundamentals in the market: Production and storage levels are both exceptionally high, and mild spring temperatures have held both demand and capacity constraints in check.
March 2023 Market Report
Bearish fundamentals like warm weather and strong storage inventory continue to weigh heavily on prices. Prompt month prices have declined 75% from late August until now, briefly dipping below $2/MMBtu on February 22.
