Natural Gas Price OutlookNatural gas prices have risen markedly over last month, on the back of higher residential usage due to the approaching winter season in the Northern Hemisphere. This comes after prices were dampened in October by mild weather in several parts of the U.S. On 1 December, the Henry Hub Natural Gas price was USD 2.84 per one million British thermal units (MMBtu). The price was 7.6% higher than on the same day last month but was down 22.8% on a year-to-date basis. The price was 17.0% lower than on the corresponding date in 2016. The U.S. Energy Information Administration’s storage report released on 30 November showed a further drawdown of gas stocks, as colder temperatures increase residential usage for heating purposes. Following two unusually warm winters, colder temperatures are expected this year. This is especially likely in the northern U.S. due to the impact of the climate phenomenon La Niña, which could increase gas demand further. On the supply side, U.S. stocks are markedly lower than in the same period last year, and they are also below the five-year average. There are concerns that the inventory deficit compared to recent years will only be accentuated in the coming weeks as colder temperatures begin to bite.
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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