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Daily Prices

8/30/24

Weekly Natural Gas Spot Prices Vary as Approaching Fall Saps Demand, Futures Fade

By Jodi Shafto

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Published in: Weekly Gas Price Index Filed under:

Weekly natural gas spot prices crept higher in the week as regional hub values varied amid changes in weather forecasts that pulled back the number of cooling-degree days expected as the calendar drifts from summer closer to fall.

NGI's EIA storage chart

NGI’s Weekly Spot Gas National Avg. for the Aug. 12-16 period gained 6.0 cents to $1.645/MMBtu.

Gains were substantial at Appalachia hubs, where warm weather continued to drive demand. Texas Eastern M-2, 30 Receipt prices were 21.0 cents higher week/week to $1.505. Northeast prices were also supported by hot weather. Algonquin Citygate was up 20.5 cents to $1.685.

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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.