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Warm Weather Creates Robust Supplies

Natural gas prices have continued their downward trend this winter as a result of warmer-than-normal temperatures, ample natural gas in storage, and growing production. Population-weighted heating degree days since November 1, 2011 are down 12% nationally from the 30-year average. Total working natural gas in underground storage in the lower 48 states was 3,098 Bcf for the week ending January 20, 21% above the storage levels from one year ago. Daily dry gas production averaged about 64.2 billion cubic feet per day (Bcfd) in January, up almost 10% from last January.

Click on the tab headers below to see charts highlighting factors affecting natural gas prices.

Spot Prices
Weather
Storage
Production
Futures Prices




Average spot natural gas prices for January were $2.68/MMBtu. Spot natural gas prices in January 2012 reached their lowest level in 10 years except for a 4-day period over the Labor Day weekend in 2009. (EIA)