US Northeast spot natgas, power and electricity prices reach record highs due to Arctic blast that boosts heating demand and freezes gaswells
U.S. spot gas and power prices soared in the northeastern region of the country as homes and businesses turned up their heaters. The cold Arctic air had frozen oil and gas wells, and pipes this week. This resulted in gas production dropping to a 2-year low. Pennsylvania's?has jumped by 47%, to a record of $59. In Pennsylvania and Maryland, the price of a megawatt-hour (MWh) soared by 146%. This compares to average cash gas prices in New England of $6.08/mmBtu and $2.79/mmBtu at the Eastern Gas?hub and the average next-day electricity prices at the PJM West?hub of $60.23/MWh by 2025. In recent days, the next-day gas and power prices in the U.S.
German spot prices rise on declining wind production
On Monday, the German baseload contract increased due to a lower supply of wind power and an increase in demand. In contrast, opposite trends are expected for?the nearby regions. LSEG data shows that the German day-ahead power contract was up?25.2% to 135.50 Euros ($160.62 per megawatt hour) at 0911 GMT. LSEG analyst Xiulan he said that a lower wind speed and higher demand in Germany will send a bullish message. Residual load will remain high until?early evening, when it is expected to start to decrease. The picture changes in the rest region where the increasing?winds and the declining residual loads point to a more bearish scenario, they said.
EUROPE GAS Prices Hit Multi-Month Highs Due to US Winter Storm and Storage Concerns
Dutch and British gas contract prices rose Monday morning to their highest level in nearly 10 months as the freezing weather in the U.S. curbed LNG exports. This also raised concerns about?European gas storage levels. LSEG data shows that the benchmark Dutch front-month contract for megawatt hours (MWh) at the 'TTF 'hub had increased by 2.55 euros to 41.95 euros or $14.56/mmBtu at 0825 GMT. According to LSEG, it has reached its highest price since early April 2025 at 42.75 Euros/MWh. The Dutch day-ahead contracts gained 1.85 Euros to 42.45 EUR/MWh. The price of British gas for the day ahead was 7.58 pence higher at 110.33 pence/therm.
As Europe Premium widens, LNG tankers divert their eastbound route
Shiptracking data shows that traders are taking advantage of higher gas prices in Europe compared to Asia by diverting two LNG tankers originally bound for Asia towards Europe and Turkey. The fall in temperatures in northern hemisphere is boosting the heating demand in Asia and Europe, and driving up prices. On Thursday, the price of Asian LNG futures was $11.22 per million British Thermal Units (mmBtu), based on S&P Global Energy Plts Japan-Korea Marker. The benchmark front-month contract for the Dutch Title Transfer Facility hub was closed on Thursday at 38.22?euros per megawatt, or $13.17/mmBtu.
Winter storm increases demand for power in US data centers Alley
The largest U.S. power grid saw its prices rise sharply Sunday, as the demand for energy in a region that has?the largest concentration of data centers in the world? exceeded forecasts in the midst of a deep freeze gripping the majority half the nation. Dominion Energy territory in Virginia saw real-time wholesale prices of $1,800 for a?MWh as early as Sunday morning, up from $200 on Saturday. Virginia is home to the largest cluster of data centres in the world. These centers are used for artificial intelligence, and the rising demand and price of electricity in large swaths across the nation.
Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 3 weeks.
Baker Hughes, an energy services company, said in a closely-followed report published on Friday that U.S. firms added oil and gas rigs this week for the first time since three weeks. The number of oil and gas drilling rigs, a good indicator of future production, increased by 1 in the week ending January 23. Baker Hughes reported that despite this week's increase in rigs the total count is still 32 rigs lower than it was at this time last year. Baker Hughes reported that oil rigs rose by one to 411 in the past week. Gas rigs, however, remained unchanged at 122. Oil and gas rig counts declined by about 7% in '2025, 5% a year later in 2024 and 20% a year later in 2023, as lower U.S.
As Europe Premium widens, LNG tankers divert their eastbound route
Shiptracking data shows that traders are taking advantage of higher gas prices in Europe compared to Asia by diverting two LNG tankers originally destined for Asia towards Europe and Turkey. The fall in temperatures in the northern hemisphere is boosting heating demand. Prices are rising?in both Asia and Europe, and regional competition for LNG supplies is increasing. On Thursday, the price of Asian LNG futures was $11.22 per 100,000 British thermal units. The benchmark front-month contract for the Dutch Title Transfer Facility hub was closed on Thursday at 38.22 Euros per megawatt hour, or $13.17 per MMBtu.
Baker Hughes reports that US drillers have cut their oil and gas rigs a second time in a week.
Baker Hughes, a leading energy services company, said in its closely watched report published on Friday that U.S. firms have cut back the number of natural gas and oil rigs for the second consecutive week. In the week ending January 16, the oil and gas rig counts, an early indicator for future production, dropped by one, to 543. This is the lowest it has been since mid-December. Baker Hughes reported that the total rig count is down 37 rigs or 6% from this time last week. Baker Hughes said oil rigs increased by one this week to 410, while gas-rigs dropped?by two, to 122. This is their lowest level since October.
French wind production drops, causing a split in spot prices
The French spot contract rose on Friday as the French wind supply was expected to fall by almost 40%, and nuclear output declined. Meanwhile, German demand and supply are expected to decrease, and German wind supply will be slightly higher. By 0926 GMT, the?French baseload day-ahead contract was up 18.4% to 107.75 Euros ($125.33). The German equivalent contract fell 8.2% to 109.5 euros/MWh. LSEG data revealed that German wind-power production was expected to increase by 730 megawatts, to 25.2 gigawatts. Meanwhile, French wind power was projected to decrease by?5 GW at 7.7 GW.
Wind power surge cuts spot prices but frost-related demands lend support
The European prompt power price fell on Tuesday, ahead of a near-tripling of German wind power expected on Wednesday and a more-than-doubling of French wind energy volumes. However, the prices remained relatively high as icy weather?supported?demand. The LSEG analyst Naser Hazemi wrote that "higher wind energy generation leads to a lower residual load on several markets, including Germany." He was referring to fewer thermal plant requirements. He added that "demand is expected in many countries to increase". LSEG data showed that French day-ahead basis load was down 10.4% to 107.5 euros per Megawatt hour by 0910 GMT. The German equivalent price dropped by 14.9% to 101.8 Euro/MWh.
German spot prices rise as output of renewable energy falls
German day-ahead electricity prices increased on Monday, as the expected decrease in renewables generation offset an anticipated decline in demand. LSEG data shows that German baseload day-ahead was up?38.9% to?123 Euros ($143.70 per megawatt hour) at 0944 GMT. Data showed that the equivalent French price had risen by 35.2%, to 121 Euros. Naser Hashemi of LSEG, a LSEG analyst, predicted that residual load in Germany will be almost 10 GWh/h more than the previous day, until about 5 p.m. He cited lower renewables as a factor that would boost 'German power prices. LSEG data shows that the German wind power production is expected to drop by 1.3 gigawatts on Tuesday to 13.4 GW.
Demand for lithium is expected to increase due to the growing demand for energy storage.
The boom in battery storage in 2026 has increased the demand for lithium, bringing 'hopes of an accelerated turnaround in an industry that is struggling with an oversupply. Since the second half 2022, the lithium market has struggled with an?oversupply. Demand is not keeping up with the soaring supply - fueled by a price boom that was triggered in part by a surge in electric vehicle batteries. China's reforms in the power sector have helped fuel a stronger than expected demand in 2025 for lithium, which is used in batteries to store power. This has led to a cautiously positive outlook for the year ahead.
Baker Hughes reports that US drillers added oil and gas rigs in the US for the second consecutive week.
Baker Hughes, an energy services company, said that U.S. firms added oil and natural gas rigs this week for the second consecutive week. The oil and gas rig counts, an early indicator of future output, increased by one in the week ending December 30 to reach 546, its highest level since December 12. Baker Hughes released its rig count report early because of the New Year's Day holidays. Baker Hughes reported that despite a?this week rig increase?, the total number of rigs was still 7.3% lower than this time last year. Baker Hughes reported that oil rigs rose by three this week to 412…
Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 3 weeks.
Energy services firm Baker Hughes said that U.S. firms added oil and gas rigs this week for the first time in 3 weeks. The number of oil and gas rigs, a good indicator of future production, increased by three in the week ending December 23. Baker Hughes has released its rig count report several days earlier than usual due to the Christmas Day holidays. Baker Hughes reported that despite this week's increase in rigs, the total count is still down by 44 rigs since?this time last. This represents a 7.5% decline. Baker Hughes reported that the number of oil drilling rigs rose by three this week to 409, while gas drilling rigs remained unchanged at 127.
Spot prices fall on the back of low demand before holidays
European prompt electricity prices fell on Tuesday due to a combination of?rising renewables output, high French nuclear power supply and weak consumption before Christmas holidays. In a research report, Riccardo Paraviero, LSEG's analyst, said that the outlook for tomorrow is "undoubtedly" bearish due to a significant drop in demand as compared with the previous week. LSEG data showed that German baseload for the day ahead was down by 26.9% to?57 euros ($67.19 per megawatt-hour (MWh)? at 0910 GMT. The French equivalent contract dropped even further to trade at '29.80 Euros/MWh. This is down 61.7%, and is less than half of the price on its larger neighbouring market.
Baker Hughes reports that US drillers have cut their oil and gas rigs a second time in a week.
Baker Hughes, an energy services company, said that the U.S. firms have cut back on the number of oil and gas rigs for a second consecutive week for the first time since August. The number of oil and gas rigs, a good indicator of future production, dropped by six in the week ending December 19. This is the lowest since September. Baker Hughes reported that oil rigs dropped by eight this week to 406; their lowest level since September 2021. Gas rigs remained at 127, and miscellaneous?rigs increased by two to 9. Oil and gas rig counts are expected to decline by 5% in 2024, and by 20% in 2023. This is because lower U.S.
German spot prices are impacted by lower demand on Monday
German power prices will likely fall on Monday as a drop in wind power production is expected to be offset by a lower consumption. LSEG data showed that the German and French Monday baseload 'power contracts' were not traded by 8:40 GMT on a Friday. LSEG data shows that German wind power production is expected to drop by 2.4 gigawatts to 26.3 GW Monday. French wind power is also expected to decline 1.9 GW down to 3.5 GW. "Even though the wind has dropped?in Germany, the residual load is lower by 3 GWh/h compared to last Friday due to a decrease in demand related to holidays," said LSEG's Naser Hashemi.
Spot prices rise on lower wind output
The European power prices for the day ahead of Friday increased on Thursday, as it is expected that a decline in wind power supply will have a "bullish" effect. LSEG analyst Xiulan he said that the signal for Germany is bullish based on a significant fall in wind supply. Imports are expected to continue throughout the day. LSEG data show that the German day-ahead contracts rose 25.9% at 0939 GMT to 117.05 Euros ($136.87 per megawatt hour). Data showed that the French equivalent of the position rose by 11%, to 83.50 Euros/MWh. LSEG data shows that German wind 'power output' is expected to drop by 14.2 gigawatts on Friday to 8.8 GW…
Baker Hughes reports that US drillers have added rigs to their fleet for the fourth time in just five weeks.
Baker Hughes, a leading energy services company, said that U.S. companies added drilling rigs this week for the fourth time within five weeks. The number of oil and gas drilling rigs, a good indicator of future production, increased by five in the week ending December 5. This is its highest level since late November. Baker Hughes reported that oil rigs increased by six this week to 413, the highest level since late November. Gas rigs, on the other hand, fell by one, to 129, which is their lowest level since late November. Oil and gas rig counts are expected to decline by 5% and 20% respectively in 2024, as the lower U.S.
Spot prices increase on lower wind output
The European spot electricity prices rose on Tuesday as the wind generation output is expected to decline in France and Germany. LSEG data shows that the German baseload day-ahead power price at 0943 GMT was 102.50 Euros ($119.09 per megawatt-hour), up 9.7% on Friday's closing price for Monday delivery. Data showed that the equivalent French price for Monday delivery was 82.25 Euros/MWh. This is a 5.4% increase from the Friday price. LSEG data indicated that on the supply side German wind power output was expected to decline by 1.3 gigawatts, to 23.1 GW, while French wind production is forecast to fall 2.1 GW, to 8.8 GW.