US natural gas prices mixed week-over-week amid varying demand

Northeast

Cash gas prices in the Northeast region remained elevated, as cold temperatures boosted gas demand, while production ticked lower.

Algonquin city-gates averaged $27.785/MMBtu in the two weeks ended Feb. 11, compared with $15.968/MMBtu in the same period a year ago, while TETCO-M3 and Transco, Zone 5 South rose $16.247 and $18.86, respectively, to $19.679/MMBtu and $22.241/MMBtu.

In the Appalachia region, Columbia Gas rose $2.50 from a year ago to average $3.029/MMBtu for Jan. 29-Feb. 11 flows, while Eastern Gas South jumped $2.039 to average $2.973/MMBtu.

Northeast gas demand averaged a record-high 40.78 Bcf/d in the two weeks ended Feb. 11, up from 39.93 Bcf/d in the prior two weeks, according to S&P Global Energy CERA data.

Average temperatures in the region dipped to 21.6 F, or 11 degrees below normal, in the latest two weeks, compared with 24.1 F, or 7 degrees below normal, in the prior two weeks. The cooler weather boosted residential-commercial demand by 429 MMcf to 19.94 Bcf/d, while power sector demand rose 233 MMcf to 11.44 Bcf/d.

Despite the higher demand, total Northeast gas production averaged 34.57 Bcf/d in the two weeks ended Feb. 11, down from 34.72 Bcf/d in the prior two weeks.

Storage withdrawals jumped to 139 Bcf in the two weeks ended Feb. 6, up from 87 Bcf withdrawn in the prior two weeks and 84 Bcf in the corresponding year-ago period, according to US Energy Information Administration data released Feb. 12.

East inventories sit at 438 Bcf, down from 474 Bcf in 2025 and the five-year average of 506 Bcf.

Southeast

US Southeast gas prices tumbled in the week ended Feb. 11 amid weaker demand figures and stronger gas production.

ANR, Louisiana, dropped $2.70 from the week ended Feb. 4 to an average of $3.75/million British thermal units for the week ended Feb. 11. Transco Zone 4 declined by $9 to $5.10/MMBtu. Florida Gas Zone 3 plunged $7.70 to $5.45/MMBtu, while Southern Natural Louisiana decreased by $7.50 to $5.05/MMBtu.

In East Texas, Carthage Hub fell by $2 to an average of $3.10/MMBtu. Florida Gas Zone 1 dropped by $5.75 to $5.90/MMBtu, while Transco Zone 1 decreased 65 cents to $2.70/MMBtu.

The Southeast and Texas saw lower demand and higher gas production numbers for the week ended Feb. 11. Southeast power demand plunged by 2.76 billion cubic feet/day to 10.10 billion cubic feet/day, while Texas power demand tumbled 923 MMcf/d to 4.49 Bcf/d. Southeast res-comm plummeted 2.54 Bcf/d to 4.62 Bcf/d alongside Texas res-comm, which fell by 1.11 Bcf/d to 1.33 Bcf/d. Texas gas production increased 235 MMcf/d to 29.27 Bcf/d for the current week. Also, Southeast gas production rose by 622 MMcf/d to 14.26 Bcf/d.

The US Energy Information Administration reported a 107 Bcf withdrawal in the South-Central region for the week ending Feb. 6. With the withdrawal, regional storage levels dropped to 784, about 69 Bcf weaker than a year ago and 89 Bcf lower than the 5-year average.

Midcontinent

Average natural gas prices in the US Central region between Jan. 29 and Feb. 11 fell overall compared to the previous two weeks, amid higher average temperatures that lowered heating demand.

In the Upper Midwest, Chicago city-gates fell by $10.83 to average $5.70 per MMBtu. In comparison, the price average for the same period the previous year was $3.08/MMBtu. Northern Ventura's price dropped by $14.92 to an average of $6.89/MMBtu over the last two weeks.

In the Midcontinent, the average price at Panhandle, Texas-Oklahoma saw a $9.37 drop over the last two weeks, to average at $3.93/MMBtu. NGPL, Midcontinent fell by $4.99 to reach an average price of $3.71/MMBtu.

Average total demand volumes in the Midcon Market and Midcon Producing dropped over the last two weeks. The Midcon Market fell by 4.41 Bcf to an average of 24.78 Bcf/d, while the Midcon Producing dropped by 2.20 Bcf to an average of 5.53 Bcf/d over the last two weeks.

Most of the total demand drop came from lower residential-commercial heating demand in both regions. The Midcon Market saw heating demand drop by 3.83 Bcf to an average of 12.37 Bcf/d, and the Midcon Producing dropped 1.16 Bcf to an average of 2.16 Bcf/d instead.

The drop in heating demand followed average temperatures across the Midcontinent, jumping over the previous two weeks. The Midcon Market almost saw a 10-degree F rise to an average of 21.8 degrees F between Jan. 29 and Feb. 11, however, averages in the region still sat about 9.5 degrees F below normal temperatures. The Midcon Producing saw average temperatures increase about 14 degrees F over the same period to an average of 36 degrees F, about 1 degree below the normal average.