ERCOT Demand Hits Records as US Natural Gas Supply Remains Firm

The US natural gas rig count remains steady, with Baker Hughes reporting 127 active rigs as of August 21. This number is close to the three-year high of 134 reached in February and suggests that producers are still actively engaged in production.

Energy Transfer's Hugh Brinson pipeline is expected to reach its full transportation capacity of 1.5 billion cubic feet per day by September 1, further increasing supply at the benchmark delivery point of Henry Hub in Erath, Louisiana.

The current weather pattern has driven ERCOT demand to record levels, but the market remains cautious about the impact of a potential El Niño event that could bring warmer-than-normal conditions to the Northern Hemisphere during the fall and winter.