Natural gas U.S. prices averaged USD 2.82 per MMBtu in June, up 16.6% from May. On 28 June, the commodity traded at USD 2.60 per MMBtu, up 0.8% from 31 May.
Prices averaged the highest since November 2023 in June, as U.S. inventories continued to fall against their five-year seasonal average. Average U.S. consumption of natural gas for power use rose 27.2% between the week ending 29 May and that ending 26 June as U.S. temperatures soared. In contrast, average U.S. natural gas production rose just 0.6% over the same period amid shutdowns of U.S. gas rigs; the rig count fell to its joint-lowest level in over three years in June in response to past low prices.
This chart displays Natural Gas U.S. (US$/MMBtu) from 2022 to 2024.
U.S. Henry Hub Natural Gas (prices in US$/MMBtu, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| U.S. Henry Hub Natural Gas | 2.78 | 2.33 | 2.66 | 2.92 | 2.11 | 2.33 | - | - |