US natural gas prices rose above $1.7/MMBtu due to a larger-than-expected storage draw reported by the EIA and increased demand forecasts for the next two weeks. Utilities withdrew 36 bcf of gas from storage, exceeding the 28 bcf draw expected by the market. Despite a 25% drop in prices in Q1 following a mild winter and high output, prices are expected to remain under pressure due to forecasts of mild weather, ample gas in storage, and reduced gas flow to LNG export plants. These factors may lead to record-high US gas consumption in 2024 and the first production cut since 2020, when the pandemic drastically reduced demand. Energy firms like EQT and Chesapeake Energy have already reduced output by about 3% in response, delaying well completions and scaling back drilling activities.

Natural gas decreased 0.58 USD/MMBtu or 24.79% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Natural gas reached an all time high of 15.78 in December of 2005. Natural gas - data, forecasts, historical chart - was last updated on March 28 of 2024.

Natural gas decreased 0.58 USD/MMBtu or 24.79% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Natural gas is expected to trade at 1.73 USD/MMBtu by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.74 in 12 months time.



Price Day Month Year Date
Crude Oil 83.17 1.820 2.24% 7.39% 13.74% Mar/28
Brent 86.94 1.530 1.79% 7.10% 12.05% Mar/28
Natural gas 1.75 0.0321 1.87% -12.84% -19.87% Mar/28
Gasoline 2.72 0.0474 1.77% 5.76% 3.11% Mar/28
Heating Oil 2.62 0.0202 0.78% 1.05% 2.19% Mar/28
Coal 129.00 0.10 0.08% -1.53% -26.91% Mar/27
TTF Gas 27.34 -0.35 -1.25% 9.95% -36.13% Mar/28
UK Gas 68.16 -1.0600 -1.53% 10.69% -35.47% Mar/28
Ethanol 1.58 0.0051 0.32% 5.02% -29.57% Mar/28
Naphtha 709.01 0.01 0.002% 6.92% 5.12% Mar/28
Propane 0.82 0 0% -8.78% 2.85% Mar/28
Methanol 2,467.00 -32.00 -1.28% -4.16% -0.40% Mar/28


Natural gas
The natural gas futures price is based on delivery at the Henry Hub in Louisiana, the nexus of 16 intra- and interstate natural gas pipeline systems that draw supplies from the region's prolific gas deposits. The contract trades in units of 10,000 million British thermal units (mmBtu). Natural gas accounts for almost a quarter of United States energy consumption. The United States is the biggest natural gas producer followed by Russia. The Natural gas market prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our Natural gas market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
1.75 1.72 15.78 -1.00 1990 - 2024 USD/MMBtu Daily