Natural Gas Price OutlookNatural gas prices rallied in recent weeks and, on 3 October, they hit the highest level since the end of January. The increase reflected strong demand and low gas storage levels just a few weeks away from the commencement of the winter season in the Northern Hemisphere. Natural gas prices, however, receded in the following days on the back of reports suggesting a large storage addition at the end of September. On 5 October, the Henry Hub Natural Gas price was USD 3.14 per one million British thermal units (MMBtu). The price was up 12.5% from the same day in the previous month and was 6.4% higher on a year-to-date basis. In addition, the price was up 7.5% from the corresponding date in 2017. Natural gas prices rallied for most of September and at the onset of October, due to low storage levels ahead of the upcoming winter. Low stocks reflect a relatively cold spring and hot summer in the United States that have not helped to replenish deposits. Moreover, while late summer and early fall are good months to rebuild inventories, injections have been lower than normal. The EIA report from 4 October, however, showed that gas inventories increased by 98 billion cubic feet (bcf) for the week ending 28 September, surpassing the 88 bcf expected by market analysts and thus supporting natural gas prices.
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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