Natural Gas Price OutlookPrices for natural gas retreated in recent weeks, after hitting an over seven-year high in early October due to the ongoing global energy crunch. On 5 November, the Henry Hub Natural Gas price was USD 5.52 per one million British thermal units (MMBtu), which was 12.5% lower than on the same day in the previous month. However, the price was up 116.5% on a year-to-date basis and was 88.4% higher than on the same day in 2020. An improving supply backdrop brought the natural gas price rally to a halt in October. Russia’s state-controlled energy giant Gazprom announced plans to start filling up its storage in Europe from 8 November following an order from Present Putin, which somewhat alleviated supply concerns and prompted a marked pullback in natural gas prices globally. Moreover, an accelerating stock buildup in the U.S. reported by the EIA in October further weighed on prices, with U.S. gas inventories expected to reach close to their five-year average by the end of November. That said, natural gas prices remained generally elevated, as sustained growth in energy demand globally and the possibility of a colder-than-usual winter season remained in play.
Natural Gas Price History Data (USD per MMBtu, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Natural Gas Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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