Natural Gas U.S. Prices

Natural gas U.S. prices averaged USD 2.40 per MMBtu in September, up 14.6% from August. On 30 September, the commodity traded at USD 2.91 per MMBtu, up 36.6% from 30 August.

Prices hit a three-month high in September, after recently languishing at some of the lowest levels since the onset of the global energy crisis in 2021. Three U.S. developments—a mild winter, record output, and the closure of the Freeport LNG terminal—are now being reversed, with storage injections in July, August and September at record lows: The summer was hot, raising cooling demand; the gas-rig count has fallen to historic lows, knocking production; and Freeport is close to capacity, boosting exports.