Natural Gas Price OutlookNatural gas prices lost ground at the end of June, following a report by the U.S. Energy Information Administration (EIA) showing a larger-than-expected increase in natural gas supply. Despite predictions of hotter summer temperatures, which would boost power generation demand, and the EIA’s reports of lower storage levels, surging supply outpaced demand, negating the upside pressures. On 6 July, the Henry Hub Natural Gas price was USD 2.86 per one million British thermal units (MMBtu). The price was 1.3% lower than on the same day in the previous month and was down 3.2% on a year-to-date basis. In addition, the price was 1.0% lower than on the corresponding date in 2017. Natural gas prices will likely be subdued during the rest of the summer as supply levels remain at record highs, putting downward pressure on prices. Moreover, supply is expected to ramp up further going forward—particularly in the U.S. and Russia—in response to growing demand. However, this will be partly offset by lower production from several key players, including Australia, which recently downgraded its forecasts for export volumes for 2018 and 2019. In addition, the Netherlands is winding down supply at the Groningen field starting this year until 2030 due to earthquake concerns.
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
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.