Outside of the Northeast, prices rise. Prices at the Henry Hub rose from $2.75/MMBtu last Wednesday to $2.86/MMBtu yesterday, posting a net increase for the second week in a row. Prices at many other trading locations moved in a similar pattern. At the Chicago Citygate, prices increased from $2.74/MMBtu last Wednesday to $2.87/MMBtu yesterday. At the PG&E Citygate inNorthern California, prices rose from $3.13/MMBtu last Wednesday to $3.20/MMBtu yesterday.

Temperatures are at different extremes. East of the Rockies, temperatures were warmer than normal during the report week. On Sunday and Monday, high temperatures reached into the 80s across most of the eastern half of the country, with temperatures exceeding 90o Fahrenheit in areas of Texas and Florida. However, at the same time, a snowstorm covered the Denver area with nearly a foot of snow. Despite the differences in weather, outside the Northeast, price movements were similar over the report week across the country. The Opal spot price rose 13¢ from $2.52/MMBtu last Wednesday to $2.65/MMBtu yesterday, mirroring price movements around the country.

Northeast price movements are mixed. At the Algonquin Citygate, servicing Boston, prices fell from $2.06/MMBtu last Wednesday to $1.91/MMBtu yesterday, after reaching $2.62/MMBtu on Monday, likely because of higher levels of natural gas consumed in the electric power sector (power burn). Prices at Transcontinental Pipeline's Zone 6 trading point for delivery into New York City rose from $2.80/MMBtu last Wednesday to $2.86/MMBtu yesterday, after peaking at $3.03 on Monday — the first time these prices were greater than $3.00/MMBtu since early March.

Marcellus prices move lower. Marcellus-area price movements were both up and down, but prices still remained very low overall. At Tennessee's Zone 4 Marcellus trading location, prices posted an overall 1¢ increase from $1.31/MMBtu to $1.32/MMBtu yesterday, but they had reached $1.59/MMBtu earlier in the week. On the Transco Leidy Line, prices fell from $1.49/MMBtu to $1.43/MMBtu. At Dominion South, which serves customers in portions of Pennsylvania, Ohio, Maryland, West Virginia, and Virginia, prices fell from $1.73/MMBtu to $1.52/MMBtu.

Nymex prices rise. At the Nymex, the June 2015 contract rose from $2.776/MMBtu last Wednesday to $2.935/MMBtu yesterday. The price of the 12-month strip (the 12 contracts from June 2015 to May 2016) also rose, increasing from $3.029/MMBtu last Wednesday to $3.148/MMBtu yesterday.

Total supply increases. Total supply rose slightly this week, according to data from Bentek Energy. Dry production moved up slightly, rising 0.1% from the previous week, but it was 6.8% greater than the same period a year ago. Imports of natural gas from Canada to the United States rose 6.3%, with increases occurring in the West and Midwest. LNG sendout remained minimal.

Power burn drives consumption increase. Total consumption of natural gas rose 5.1% from last week, with the largest increases occurring in the power sector, where consumption rose 13.8%, as many areas experienced the first taste of summer weather this week. The largest increases in power consumption this week were in the Southeast—which is also the largest overall power-consuming sector—where power burn rose 25.1% week over week and averaged 9.6 Bcf/d. The Northeast also posted a similarly large increase in power burn this week, increasing 19.9% to an average of 6.3 Bcf/d. Residential and commercial consumption increased 0.8%, and industrial consumption fell 1.5% from the previous week.