Natural Gas U.S. Prices

Natural gas U.S. prices averaged USD 2.57 per MMBtu in October, up 7.2% from September. On 31 October, the commodity traded at USD 2.70 per MMBtu, down 7.2% from 30 September.

Prices hit a five-month high in October, as U.S. supply continued to shrink. Producers in the Gulf Coast, where around half of U.S. natural gas is processed, were forced to cut output in response to the arrival of a major hurricane. This came against an already bullish backdrop, with storage injections in July, August and September at record lows due to a hot summer, the gas-rig count falling to an all-time low and the Freeport LNG export terminal returning to full capacity.