Natural Gas Price OutlookU.S. natural gas prices continued to rise sharply in May on persistent supply concerns. Henry Hub Natural Gas prices averaged USD 8.15 per one million British thermal units (MMBtu) in May, which was up 21.0% from April's price and was 175.0% higher than in the same month last year. Meanwhile, on 31 May, the commodity traded at USD 8.15 per MMBtu, which was 12.6% higher than on the same day of the previous month. Gas prices continued to sprint upward last month. The market remained tight, with the EIA’s latest report confirming that U.S. inventories languished 15.3% below their five-year average as of 20 May. Supply prospects remained restrained, with shale drillers opting to shell out dividends and to pay off debt instead of boosting output capacity. Demand prospects were bolstered by recent weather forecasts which suggest that almost all of the U.S. is at risk of above-average temperatures this summer. Meanwhile, U.S. LNG exports remained at record levels in the month, pushing prices upward amid strong European demand stemming from moves to diversify away from Russian fuel.
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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