US Henry Hub Natural Gas Futures Rise to $2.48 on Upgraded Texas Demand Forecasts

The move follows revised National Weather Service outlooks that lifted expected cooling degree days in ERCOT territory by 12 percent above the seasonal norm. Storage data from the prior week showed a 62 billion cubic foot draw, narrower than the five-year average, leaving inventories at 2.78 trillion cubic feet. Higher power-sector burn in Texas directly reduces volumes available for liquefaction at Sabine Pass and Corpus Christi terminals.

US LNG export commitments to Europe remain fixed under long-term contracts indexed to TTF, so any domestic supply tightening raises the marginal cost of incremental cargoes. Producers in the Haynesville and Permian have not accelerated drilling despite the price signal, constrained by associated-gas economics and pipeline takeaway limits. This keeps the prompt-month curve sensitive to short-term weather revisions rather than structural supply growth.

Next week’s EIA storage report will test whether utilities have already front-loaded purchases. A draw above 75 billion cubic feet would likely push October futures above $2.55 before the Labor Day weekend. Sustained heat would also widen the summer-winter spread, altering the economics of storage injection for the 2025-26 season.