On March 7, 2025, the Henry Hub natural gas spot price amounted to 4.27 U.S. dollars per million British thermal units. In January 2025, a cold front was feared to impact refiners, leading to a spike in prices. The European gas benchmark Dutch TTF also rose amid colder weather. What is Henry Hub? The Henry Hub price is seen as the most important benchmark for the U.S. natural gas market. As of 1990, it has been used for pricing of natural gas traded on the New York Mercantile Exchange and later the Intercontinental Exchange. The hub in question is a distribution pipeline system in Louisiana and began operating in the 1950s. The highest Henry Hub annual average prices were recorded in 2005 and 2008, when they climbed to over eight U.S. dollars per million British thermal unit. Natural gas export prices In recent years, the U.S. has been incentivized to build up its liquefaction and LNG export capacities as it widens the potential customer pool. With sanctions on Russian energy imports, many European countries looked to the U.S. for procuring natural gas from 2022 onward. In line with Henry Hub pricing development, the monthly LNG export price also showed volatility depending on market and geopolitical events.

Graph and download economic data for Henry Hub Natural Gas Spot Price (DHHNGSP) from 1997-01-07 to 2025-03-24 about natural resources, gas, price, and USA.

Natural gas increased 0.21 USD/MMBtu or 5.84% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Natural gas - values, historical data, forecasts and news - updated on March of 2025.

United States - Henry Hub Natural Gas Spot Price was 4.15000 $ Per Mil. BTU in March of 2025, according to the United States Federal Reserve. Historically, United States - Henry Hub Natural Gas Spot Price reached a record high of 23.86000 in February of 2021 and a record low of 1.05000 in December of 1998. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Henry Hub Natural Gas Spot Price - last updated from the United States Federal Reserve on March of 2025.

Time series of major Natural Gas Prices including US Henry Hub. Data comes from U.S. Energy Information Administration EIA

Dataset contains Monthly and Daily prices of Natural gas, starting from Ja...

This dataset contains Henry hub natural gas spot prices from 1997. Data from US Energy information administration. Notes:- Referring "Natural gas spot and future prices (NYMEX)"- Prices are based on delivery at the Henry Hub in Louisiana. Official daily closing prices at 2:30 p.m.

Graph and download economic data for Henry Hub Natural Gas Spot Price (AHHNGSP) from 1997 to 2024 about natural resources, gas, price, and USA.

The global natural gas price index stood at 232.28 index points in February 2025. Natural gas prices increased by seven index points that month. The global price index takes into account indices from Europe, Japan, and the United States – some of the largest natural gas trading markets. The U.S. is the leading natural gas exporter in the world. Means of trading natural gas Liquefied natural gas (LNG) is the most common form of trading natural gas. Although piped gas is often the preferred choice for transportation between neighboring producing and consuming countries, seaborne trade as LNG has grown in market volume. This is in part thanks to high consumption in pipeline-inaccessible areas such Japan, Korea, and China, as well as the recent increase in LNG trade by European countries. Major natural gas price benchmarks The natural gas prices often used as global benchmarks are Europe’s Dutch TTF traded on the Intercontinental Exchange, Indonesian LNG in Japan, and the U.S. Henry Hub traded on the New York Mercantile Exchange. 2022 was an especially volatile year for natural gas prices, as supply was severely constrained following sanctions on Russian imports. Other reasons for recent spikes in gas prices are related to issues at refineries, changes in demand, and problems along seaborne supply routes.

United States CBO Projection: Natural Gas Price: Henry Hub: Annual data was reported at 3.270 USD/MN BTU in 2029. This records an increase from the previous number of 3.160 USD/MN BTU for 2028. United States CBO Projection: Natural Gas Price: Henry Hub: Annual data is updated yearly, averaging 2.880 USD/MN BTU from Dec 2015 (Median) to 2029, with 15 observations. The data reached an all-time high of 3.270 USD/MN BTU in 2029 and a record low of 2.430 USD/MN BTU in 2016. United States CBO Projection: Natural Gas Price: Henry Hub: Annual data remains active status in CEIC and is reported by Congressional Budget Office. The data is categorized under Global Database’s United States – Table US.P008: Natural Gas Price: Projection.

The Waha trading hub in the Permian basin had by far the lowest natural gas spot prices across the U.S. in 2024. This was due to the trading hub's close location to some of the country's most productive oil and gas wells and limited pipeline capacity. By comparison, the Henry hub price, the U.S. natural gas benchmark, was 2.22 U.S. dollars per million British thermal units.

United States - Henry Hub Natural Gas Spot Price was 3.89000 $ Per Mil. BTU in January of 2021, according to the United States Federal Reserve. Historically, United States - Henry Hub Natural Gas Spot Price reached a record high of 8.86000 in January of 2008 and a record low of 2.03000 in January of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Henry Hub Natural Gas Spot Price - last updated from the United States Federal Reserve on March of 2025.

Countries in Europe have some of the highest natural gas prices for the industry in the world. In the second quarter of 2024, industrial customers in Switzerland paid approximately 0.16 U.S. dollars per megawatt hour worth of natural gas. This was considerably higher than the price of gas in natural gas producing countries such as Russia and Algeria. Determining natural gas prices Like other commodities, natural gas prices are driven by supply and demand trends. In some instances, they may also reflect developments within the oil market, as both commodities are often produced together. Natural gas prices are volatile. Seeing as the consumption of natural gas is often without alternative (e.g. within power plants), short-term changes to supply and demand have huge repercussions for the market. Weather is also a common determinant of natural gas prices. Unprecedented heat waves in the U.S. have driven up electricity demand for air conditioning and affected weekly Henry Hub natural gas prices in the hotter summer months. Natural gas demand Primary energy demand generated by natural gas worldwide is highest in North America. Nevertheless, forecasts suggest that the Asia Pacific region will experience a doubling in such demand by 2050 and overtake consumers in North America. The United States is still leading a ranking of world natural gas consumption by country. However, China has increased its LNG and gas pipeline investment portfolio, which could see it becoming an even greater consumer in the future.

Natural gas prices decreased across all major regions in 2023, as supply caught up to higher demand. In Japan, LNG sold for an average of 12.5 nominal U.S. dollars per million British thermal units. Meanwhile, the United States, as the largest natural gas producer worldwide, has significantly lower prices for the fossil fuel. The U.S. has had lower natural gas prices than Europe for much of the past four decades.

LNG on the rise LNG is expected to shape much of future natural gas trade. Although pipelines have been the preferred method of transportation for many decades, as Europe shifts away from Russia as its main gas supplier, LNG has become more in demand. The global LNG trade volume has already exceeded 500 billion cubic meters per year, and is expected to continue growing. Countries in Asia have some of the highest landed prices for liquefied natural gas worldwide.

Natural gas benchmarks Some of the most closely followed natural gas price benchmarks are the U.S. Henry Hub and the Dutch TTF. The former is an important indicator of the state of the natural gas industry in the U.S., while the latter reflects natural gas market developments in Europe and potential repercussions for consumers.

The average monthly price for natural gas in the United States amounted to 3.02 nominal U.S. dollars per million British thermal units (Btu) in December 2024. By contrast, natural gas prices in Europe were about four times higher than those in the U.S. Prices for Europe tend to be notably higher than those in the U.S. as the latter benefits from being a major hydrocarbon producer. Europe's import reliance European prices for natural gas rose most notable throughout the second half of 2021 and much of 2022, peaking at over 70 U.S. dollars per million Btu in August 2022. The sharp rise was due to supply chain issues and economic strain following the COVID-19 pandemic, which was further exacerbated by Russia’s invasion of Ukraine in early 2022. As a result of the war, many countries began looking for alternative sources, and Russian pipeline gas imports to the European Union declined as a result. Meanwhile, LNG was a great beneficiary, with LNG demand in Europe rising by more than 60 percent between 2021 and 2023. How domestic natural gas production shapes prices As intimated, the United States’ position among the leaders of worldwide natural gas production is one of the main reasons for why prices for this commodity are so low across the country. In 2023, the U.S. produced more than one trillion cubic meters of natural gas, which allays domestic demand and allows for far lower purchasing prices.

Key natural gas trading hubs in the United States. Primary considerations for areas selected include high trading volumes, geographic coverage, adoption by multiple price reporting agencies, and use in natural gas contracts. Each hub location is identified by an approximate central point.

United States EIA Forecast: Natural Gas Price: Henry Hub Spot (Th Cubic Ft) data was reported at 3.366 USD/1000 Cub ft in Dec 2019. This records an increase from the previous number of 3.210 USD/1000 Cub ft for Nov 2019. United States EIA Forecast: Natural Gas Price: Henry Hub Spot (Th Cubic Ft) data is updated monthly, averaging 3.097 USD/1000 Cub ft from Mar 2016 (Median) to Dec 2019, with 46 observations. The data reached an all-time high of 3.715 USD/1000 Cub ft in Jan 2017 and a record low of 1.819 USD/1000 Cub ft in Apr 2016. United States EIA Forecast: Natural Gas Price: Henry Hub Spot (Th Cubic Ft) data remains active status in CEIC and is reported by Energy Information Administration. The data is categorized under Global Database’s USA – Table US.P003: Energy Price: Forecast: Energy Information Administration.

UK Gas decreased 26.27 GBp/Thm or 20.95% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. UK Natural Gas - values, historical data, forecasts and news - updated on March of 2025.

The U.S. is the largest producer of natural gas in the world and the fourth largest exporter, having exported over 67 billion cubic meters of pipeline gas and 28 billion cubic meters of liquefied natural gas. Yet, the country’s natural gas distribution revenues are projected to fall from 110 billion U.S. dollars in 2010 to 75 billion U.S. dollars by 2022, as the prices have been beset by oversupply. In fact, benchmark prices have more than halved between 2014-2019. Additionally, the industrial price for natural gas in the U.S. is amongst the cheapest in the world, at 13.9 U.S. dollars per megawatt hour. To give this some perspective, it is two-fold less than that in the UK and five-fold lower as compared to the leading nation Switzerland. The outbreak of the corona virus has caused the prices to slump further. The Henry Hub natural gas prices fell to a two-decade low at 1.62 U.S. dollars per million British thermal units on April 3, 2020. In addition, the total oil and gas rig count has hit a record low of 339 in the week to May 15, according to data published by Baker Hughes Co.

Graph and download economic data for Natural Gas Price: Henry Hub, LA (DISCONTINUED) from Nov 1993 to Feb 2014 about henry hub, gas, commodities, price, and USA.

About the ProjectKAPSARC is analyzing the shifting dynamics of the global gas markets. Global gas markets have turned upside down during the past five years: North America has emerged as a large potential future LNG exporter while gas demand growth has been slowing down as natural gas gets squeezed between coal and renewables. While the coming years will witness the fastest LNG export capacity expansion ever seen, many questions are raised on the next generation of LNG supply, the impact of low oil and gas prices on supply and demand patterns and how pricing and contractual structure may be affected by both the arrival of U.S. LNG on global gas markets and the desire of Asian buyers for cheaper gas.Key PointsIn the past year, global gas prices have dropped significantly, albeit at unequal paces depending on the region. All else being equal, economists would suggest that this should have generated a positive demand response. However, “all else” was not equal. Prices of other commodities also declined while economic growth forecasts were downgraded. Prices at benchmark points such as the U.K. National Balancing Point (NBP), U.S. Henry Hub (HH) and Japan/Korea Marker (JKM) slumped due to lower oil prices, liquefied natural gas (LNG) oversupply and unseasonal weather. Yet, the prices of natural gas in local currencies have increased in a number of developing countries in Africa, the Middle East, Latin America, former Soviet Union (FSU) and Asia. North America experienced demand growth while gas in Europe and Asia faced rising competition from cheaper coal, renewables and, in some instances, nuclear. Gains to European demand were mostly weather related while increases in Africa and Latin America were not significant. For LNG, Europe became the market of last resort as Asian consumption declined. Moreover, an anticipated surge in LNG supply, brought on by several new projects, may lead to a confrontation with Russian or other pipeline gas suppliers to Europe. At the same time, Asian buyers are seeking concessions on pricing and flexibility in their long-term contracts. Looking ahead, natural gas has to prove itself a credible and affordable alternative to coal, notably in Asia, if the world is to reach its climate change targets. The future of the gas industry will also depend on oil prices, evolution of Chinese energy demand and impact of COP21 on national energy policies. Current low prices mean there is likely to be a pause in final investment decisions (FIDs) on LNG projects in the coming years.