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Natural Gas Prices

Henry Hub averaged USD 2.70 per one million British thermal units (MMBtu) in September, up 2.0% from August’s price but 65.6% lower year on year. On 29 September, the fuel traded at USD 2.93 per MMBtu, 6.2% higher month on month.

After largely flatlining last month, the benchmark spot price for U.S. natural gas regained momentum in September. Investors likely renewed bets on a looming supply squeeze, boosting the spot price: Low gas prices have forced many shale drillers to shut shop, with the U.S. gas rig count reaching its lowest level in 20 months in September. The spot price was likely boosted further by a slight fall in U.S. natural gas production in September and by a rise in Asian and European gas prices amid maintenance work in Norway. That said, the spot price only rose moderately in September, averaging at one of the lowest levels since the war in Ukraine began. U.S. natural gas consumption fell 6.2% 31 August–27 September compared to the prior four weeks. The number of cooling degree days—the difference between the recorded temperature and the temperature at which no cooling is required—fell 35% between 1 September and 21 September compared to the prior three weeks as summer ended, reducing gas demand. In addition, LNG exports fell compared to August due to maintenance work at plants such as Freeport and Sabine Pass.

This chart displays Natural Gas (US$/MMBtu) from 2022 to 2023.

U.S. Henry Hub Natural Gas (prices in US$/MMBtu, aop)

Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022
U.S. Henry Hub Natural Gas - - - - 4.57 7.50 7.93 6.11

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Price forecasts and historical data for Natural Gas.

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