Natural Gas Price OutlookNatural gas prices tapered slightly in mid-April as inventories continued to build, before recovering some lost ground heading into May on solid consumption dynamics. On 11 May, the Henry Hub Natural Gas price was USD 2.62 per one million British thermal units (MMBtu), which was 3.0% lower than on the same day in the previous month. Moreover, the price was down 11.9% on a year-to-date basis and was 6.9% lower than on the corresponding day in 2018. A build-up of natural gas in storage throughout April, according to EIA data, likely kept downward pressure on prices. Milder weather, which reduced heating demand, and solid production levels led inventories to accumulate. That said, gas in storage was still down notably from the five-year average. In late April, the EIA revealed that consumption levels in the first two months of the year were solid—with consumption in February in particular at a multi-year high—which could have led the slight price rebound at the start of May. Moreover, expectations of higher demand going forward may have put some upward pressure on prices in early May.
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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