Chat with us, powered by LiveChat

November 9, 2021

Energy News

Over the last year, the U.S. natural gas market has been volatile— from the unprecedented impact of Winter Storm Uri in February to the damaging effects of Hurricane Ida. We want to keep you informed as we’re heading into what is expected to be one of the most expensive winter heating seasons in the last decade.In October, the Henry Hub average price for the month was $5.51, which is 130 percent more than last October.

In response, utilities across the nation are raising prices with MidAmerican Energy in Iowa at $9.67 per dekatherm for November, up from $3.82 last November.

Global Demand for U.S. Natural Gas Grows
There are a number of factors that are raising the demand for U.S. natural gas.  With the energy crisis looming in both Asia and Europe, the export of U.S. liquified natural gas (LNG) has hit record levels, with export facilities operating at near maximum capacity. In fact, the Energy Information Administration (EIA) reported that 22 LNG vessels with a combined capacity of 80 billion cubic feet (Bcf) departed the U.S. between October 28 and November 3.  According to the EIA’s weekly natural gas report published on November 4, 2021, the U.S. also saw a 5.7 percent increase in demand week over week.  That increase was led by a 31.5 percent demand increase in the residential and commercial sectors.  

Producers Holding the Line on SupplyOver the last decade, the U.S. oil and natural gas producers propelled the country to be the largest producer of oil and gas; however, much of the production was done by racking up billions of debt.  Now, U.S. oil and natural gas producers are taking a more diligent approach to increasing production as the economy continues to recover.  Additionally, Hurricane Ida took out nearly 90 percent of natural gas and crude oil production in the Gulf of Mexico.  Although we’ve seen production continue to pick up, according to the EIA’s storage report published on November 10, working gas in underground storage is down eight percent from last year.  

Weather Continues to be the Biggest VariableWith growing demand and lower than normal supply, the U.S. could experience much higher prices if cold weather drives up demand.  Additionally, if we experience a weather-event like Winter Storm Uri, the U.S. could see unprecedented volatility in the market.  As ways, if you have any questions regarding this information, please reach out to your local WoodRiver energy consultant.

Market Data:

November 9, 2021

Weekly Natural Gas Storage (Values listed in Bcf)
Region 11/5/21 1/5/21 net change
East 897 943 -2
Midwest 1075 1126 -1.9
Mountain 213 243 -4.1
Pacific 258 322 -15.1
South Central 1175 1295 -2.2
Total 1075 1126 -1.9
CME (Henry Hub) Natural Gas Futures (Values listed in dekatherms) 
Date Price
11/5/21 $5.33
10/4/21 $5.80
9/13/21 $5.21
8/13/21 $3.95
7/6/21 $3.68
https://www.eia.gov/dnav/ng/hist/rngwhhdD.htm
Utility Costs of Gas (Values listed in dekatherms)
Month Mid American - IA Alliant - IA Black Hills - IA Black Hills - NE Xcel Small Volume Xcel Large Volume Kansas Gas Service Midwest Energ
November '21 $9.67 $8.69 $6.49 $6.54 $5.31 $5.25 $6.46 $7.65
October '21 $9.25 $8.60 $6.69 $6.81 $5.31 $5.25 $6.22 $6.54
September '21 $7.99 $7.27 $5.51 $5.64 $4.11 $4.06 $5.85 $6.23
August '21 $7.53 $7.14 $5.06 $5.30 $4.11 $4.06 $5.55 $5.86
July '21 $7.11 $6.85 $4.94 $4.80 $4.11 $4.06 $5.11 $5.38
Local First of the Month Markets (Values listed in dekatherms)
Month NNG Ventura Chicago Citygates Colorado Interstate Gas SouthernStar Pandandle (PEPL)
November '21 $5.95 $6.29 $4.57 $5.96 $6.01
October '21 $5.44 $5.70 $4.79 $5.58 $5.40
September '21 $4.01 $4.22 $3.67 $4.00 $3.96
August '21 $3.76 $3.89 $3.78 $3.78 $3.72
July '21 $3.41 $3.46 $3.16 $3.48 $3.33
June '21 $2.74 $2.85 $2.67 $2.83 $2.76

November 9, 2021

Energy News

Over the last year, the U.S. natural gas market has been volatile— from the unprecedented impact of Winter Storm Uri in February to the damaging effects of Hurricane Ida. We want to keep you informed as we’re heading into what is expected to be one of the most expensive winter heating seasons in the last decade.In October, the Henry Hub average price for the month was $5.51, which is 130 percent more than last October.

In response, utilities across the nation are raising prices with MidAmerican Energy in Iowa at $9.67 per dekatherm for November, up from $3.82 last November.

Global Demand for U.S. Natural Gas Grows
There are a number of factors that are raising the demand for U.S. natural gas.  With the energy crisis looming in both Asia and Europe, the export of U.S. liquified natural gas (LNG) has hit record levels, with export facilities operating at near maximum capacity. In fact, the Energy Information Administration (EIA) reported that 22 LNG vessels with a combined capacity of 80 billion cubic feet (Bcf) departed the U.S. between October 28 and November 3.  According to the EIA’s weekly natural gas report published on November 4, 2021, the U.S. also saw a 5.7 percent increase in demand week over week.  That increase was led by a 31.5 percent demand increase in the residential and commercial sectors.  

Producers Holding the Line on SupplyOver the last decade, the U.S. oil and natural gas producers propelled the country to be the largest producer of oil and gas; however, much of the production was done by racking up billions of debt.  Now, U.S. oil and natural gas producers are taking a more diligent approach to increasing production as the economy continues to recover.  Additionally, Hurricane Ida took out nearly 90 percent of natural gas and crude oil production in the Gulf of Mexico.  Although we’ve seen production continue to pick up, according to the EIA’s storage report published on November 10, working gas in underground storage is down eight percent from last year.  

Weather Continues to be the Biggest VariableWith growing demand and lower than normal supply, the U.S. could experience much higher prices if cold weather drives up demand.  Additionally, if we experience a weather-event like Winter Storm Uri, the U.S. could see unprecedented volatility in the market.  As ways, if you have any questions regarding this information, please reach out to your local WoodRiver energy consultant.

November 9, 2021

Energy News

Over the last year, the U.S. natural gas market has been volatile— from the unprecedented impact of Winter Storm Uri in February to the damaging effects of Hurricane Ida. We want to keep you informed as we’re heading into what is expected to be one of the most expensive winter heating seasons in the last decade.In October, the Henry Hub average price for the month was $5.51, which is 130 percent more than last October.

In response, utilities across the nation are raising prices with MidAmerican Energy in Iowa at $9.67 per dekatherm for November, up from $3.82 last November.

Global Demand for U.S. Natural Gas Grows
There are a number of factors that are raising the demand for U.S. natural gas.  With the energy crisis looming in both Asia and Europe, the export of U.S. liquified natural gas (LNG) has hit record levels, with export facilities operating at near maximum capacity. In fact, the Energy Information Administration (EIA) reported that 22 LNG vessels with a combined capacity of 80 billion cubic feet (Bcf) departed the U.S. between October 28 and November 3.  According to the EIA’s weekly natural gas report published on November 4, 2021, the U.S. also saw a 5.7 percent increase in demand week over week.  That increase was led by a 31.5 percent demand increase in the residential and commercial sectors.  

Producers Holding the Line on SupplyOver the last decade, the U.S. oil and natural gas producers propelled the country to be the largest producer of oil and gas; however, much of the production was done by racking up billions of debt.  Now, U.S. oil and natural gas producers are taking a more diligent approach to increasing production as the economy continues to recover.  Additionally, Hurricane Ida took out nearly 90 percent of natural gas and crude oil production in the Gulf of Mexico.  Although we’ve seen production continue to pick up, according to the EIA’s storage report published on November 10, working gas in underground storage is down eight percent from last year.  

Weather Continues to be the Biggest VariableWith growing demand and lower than normal supply, the U.S. could experience much higher prices if cold weather drives up demand.  Additionally, if we experience a weather-event like Winter Storm Uri, the U.S. could see unprecedented volatility in the market.  As ways, if you have any questions regarding this information, please reach out to your local WoodRiver energy consultant.

November 9, 2021

Energy News

Over the last year, the U.S. natural gas market has been volatile— from the unprecedented impact of Winter Storm Uri in February to the damaging effects of Hurricane Ida. We want to keep you informed as we’re heading into what is expected to be one of the most expensive winter heating seasons in the last decade.In October, the Henry Hub average price for the month was $5.51, which is 130 percent more than last October.

In response, utilities across the nation are raising prices with MidAmerican Energy in Iowa at $9.67 per dekatherm for November, up from $3.82 last November.

Global Demand for U.S. Natural Gas Grows
There are a number of factors that are raising the demand for U.S. natural gas.  With the energy crisis looming in both Asia and Europe, the export of U.S. liquified natural gas (LNG) has hit record levels, with export facilities operating at near maximum capacity. In fact, the Energy Information Administration (EIA) reported that 22 LNG vessels with a combined capacity of 80 billion cubic feet (Bcf) departed the U.S. between October 28 and November 3.  According to the EIA’s weekly natural gas report published on November 4, 2021, the U.S. also saw a 5.7 percent increase in demand week over week.  That increase was led by a 31.5 percent demand increase in the residential and commercial sectors.  

Producers Holding the Line on SupplyOver the last decade, the U.S. oil and natural gas producers propelled the country to be the largest producer of oil and gas; however, much of the production was done by racking up billions of debt.  Now, U.S. oil and natural gas producers are taking a more diligent approach to increasing production as the economy continues to recover.  Additionally, Hurricane Ida took out nearly 90 percent of natural gas and crude oil production in the Gulf of Mexico.  Although we’ve seen production continue to pick up, according to the EIA’s storage report published on November 10, working gas in underground storage is down eight percent from last year.  

Weather Continues to be the Biggest VariableWith growing demand and lower than normal supply, the U.S. could experience much higher prices if cold weather drives up demand.  Additionally, if we experience a weather-event like Winter Storm Uri, the U.S. could see unprecedented volatility in the market.  As ways, if you have any questions regarding this information, please reach out to your local WoodRiver energy consultant.

Boy adjusting temperature
Learn more about the Residential Choice Program
Learn More
 Business owner adjusting temperature
Learn more about the Commercial Choice Program
Learn More
Copyright 2022 WoodRiver Energy, All rights reserved.