Natural Gas Price OutlookNatural gas prices have been volatile in recent weeks, and gains made during mid-September on tight stocks and the impact of Hurricane Irma were reversed toward month-end on prospects of mild weather and higher production forecasts. On 6 October, the Henry Hub Natural Gas price was USD 2.92 per one million British thermal units (MMBtu). The price was down 0.3% from the same day last month and was 20.7% lower on a year-to-date basis. The price was down 2.3% from the corresponding date in 2016. The drop in prices seen in May has allowed the excess stocks built up during the first half of the year to be worked off in recent months, with the last U.S. storage report for September showing total natural gas storage below its five-year average for the first time since January. Hurricanes Harvey and Irma have also added some upward pressure to prices, with extensive damage to electricity transmission and distribution networks reported in Texas and Florida. However, U.S. shale production has been able to pick up much of the slack in production of natural gas generated by the natural disasters, with dry gas production averaging near record-highs in recent weeks.
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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