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Daily Prices

8/30/24

Weekly Natural Gas Spot Prices Dim, Light Bullish Support Flickers Amid Early Hints of Fall

By Jodi Shafto

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Published in: Weekly Gas Price Index Filed under:

Natural gas spot prices were lower in a week marked by declining demand expectations on the cusp of the fall shoulder season and a slower drawdown of storage surpluses that fed fresh concerns about the stubbornly high Lower 48 supply.

EIA storage report

NGI’s Weekly Spot Gas National Avg. for the Aug. 19-23 trading period fell 15.0 cents to $1.495/MMBtu.

Losses were spread widely across most regions. PG&E Citygate was among the largest losers sinking 34.5 cents week/week to average $2.395. PNGTS Non-Border followed, tumbling 33.0 cents to $1.845. OGT slipped 20.0 cents on the week to $1.565.

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Jodi Shafto

Jodi Shafto joined NGI as a Senior Natural Gas Reporter in October 2023. Before that, she was a business news reporter for South Carolina's largest daily newspaper, The Post and Courier, and was a Senior Energy Markets Reporter at S&P Global Market Intelligence. Based out of Charleston, Jodi has covered US energy markets since 2005 as a reporter, editor and analyst. A New Jersey native, she holds a BS in Journalism from Bowling Green State University.