2 NOAA Graphics Drove NYMEX NatGas Price Down 20.5 Cents Yesterday
The NYMEX “front month” futures price for natural gas took a dive yesterday, down 20.5 cents (4.5%) in a single day. The price remains firmly in the $4 range, closing at $4.361 per million British thermal units (MMBtus). We thought it would be a good time to check in on the price—what the futures price has been doing, and what the spot/physically traded price in the Marcellus/Utica region has been doing. We can sum up why the price tanked yesterday in a single word: weather. Expanding on that just a bit, NOAA (the National Oceanic and Atmospheric Administration) released its 6-10 Day and 8-14 Day Temperature Outlook graphics yesterday, showing most of the country (in particular the Northeast) will experience warmer than average temperatures for 6-10 days, with the Northeast experiencing warm temperatures all the way through the end of this month and into December. Read More “2 NOAA Graphics Drove NYMEX NatGas Price Down 20.5 Cents Yesterday”
In May, NRG Energy announced a deal to acquire LS Power’s portfolio of natural-gas power plants in a deal valued at roughly $12 billion, including debt, that will expand NRG’s footprint in Texas and along the East Coast (see 
On Monday, nine so-called “climate defenders” (we call them wackadoodles) from the Don’t Destroy Our Future and youth activists from Sunrise Movement were charged with obstruction of free passage after holding a sit-in protest inside Connecticut Governor Ned Lamont’s office. Approximately 30 protesters were demonstrating against what they call the governor’s plan to approve new methane gas construction, specifically citing opposition to a natural gas compressor station expansion in Brookfield and a plan to update the Capitol Area System with methane boilers. From the images we observed, most of the protesters were old hippies. 
Net Power, backed by the Rice brothers (of Rice Energy and EQT fame), is on a mission to develop and deploy revolutionary new technology to capture every last molecule of carbon dioxide from natural gas-fired power plants (see 
Those who support natural gas and who live (and work) in Virginia apparently labor under a serious delusion: That far-left Democrat Governor-elect Abigail Spanberger will support expanding (or even the continued use of) natural gas in the state. On the campaign trail in August, Spanberger said that natural gas is going to “be part of the energy mix into the future.” And people actually believed her. Suckers. Those who support natgas are reminding Spanberger of her promise regarding natgas. And now that she’s been elected? “Spanberger’s campaign did not return a request for comment on the future of natural gas in Virginia.” She’s ghosting natgas supporters. Suprised? We aren’t. 
Despite past difficulties in building new pipelines, the midstream sector is aggressively expanding, committing to over 34 Bcf/d (billion cubic feet per day) of new pipeline capacity by 2029, mainly in the Permian and Gulf Coast. However, some 5.6 Bcf/d of additional capacity is expected to come to the Marcellus/Utica region by 2029. This new supply, driven by anticipated demand from LNG exports and power for data centers, significantly exceeds the most bullish demand growth projections (18–27 Bcf/d by 2030). Analysts suggest this could lead to a temporary capacity surplus, or “overbuild.” Are we on the cusp of having too much of a good thing? 
The average number of active oil and natural gas rigs in the U.S. Lower 48 dropped sharply from 750 in late 2022 to 517 in October 2025, driven by lower prices and efficiency improvements. Despite this 31% decline, crude oil and natural gas production reached record highs as operators focused on the most productive areas, utilizing longer lateral lengths and advanced completion techniques. The Permian and Marcellus/Utica (Appalachia) regions exemplify this, with production growing significantly even as rig counts fell by 29%. For 2026, EIA forecasts a slight decline in oil production, constrained by lower WTI prices (predicted at $51/barrel). Natural gas output, however, is expected to increase slightly, supported by rising Henry Hub prices (predicted at $4.02/MMBtu) that will encourage gas-directed drilling. 
OTHER U.S. REGIONS: Venture Global files FERC application for Plaquemines expansion; NATIONAL: India strikes US gas deal under Trump pressure; The true source of civilization’s future is energy wisdom; Goldman sees oil demand rising through 2040 driven by petchem, jet fuel growth; States want proof data centers will get built; INTERNATIONAL: Oil slips as Russia port reopens; Trump backs bill to sanction Russia trade partners; Drone strikes Turkish tanker in Ukraine’s Odesa, where US natural gas will go; Atlantic LNG freight rates surge to highest since early 2024.