Natural gas rose to 3.36 USD/MMBtu on July 11, 2025, up 0.58% from the previous day. Over the past month, Natural gas's price has fallen 3.89%, but it is still 44.10% higher than a year ago, 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 July of 2025.

The price of oil and gas is a weighted average price index of US crude oil and natural gas prices. Crude oil prices are sourced from the International Monetary Fund, while natural gas prices are sourced from the Energy Information Administration. The base year for the index is 1982.

In 2024, the price of natural gas in Europe reached 11 constant U.S. dollars per million British thermal units, compared with 2.2 U.S. dollars in the U.S. This was a notable decrease compared to the previous year, which had seen a steep increase in prices due to an energy supply shortage exacerbated by the Russia-Ukraine war. Since 1980, natural gas prices have typically been higher in Europe than in the United States and are expected to remain so for the coming two years. This is due to the U.S. being a significantly larger natural gas producer than Europe. What is natural gas and why is it gaining ground in the energy market? Natural gas is commonly burned in power plants with combustion turbines that generate electricity or used as a heating fuel. Given the fact that the world’s energy demand continues to grow, natural gas was seen by some industry leaders as an acceptable "bridge-fuel" to overcome the use of more emission-intensive energy sources such as coal. Subsequently, natural gas has become the main fuel for electricity generation in the U.S., while the global gas power generation share has reached over 22 percent. How domestic production shapes U.S. natural gas prices The combination of hydraulic fracturing (“fracking”) and horizontal drilling can be regarded as one of the oil and gas industry’s biggest breakthroughs in decades, with the U.S. being the largest beneficiary. This technology has helped the industry release unprecedented quantities of gas from deposits, mainly shale and tar sands that were previously thought either inaccessible or uneconomic. It is forecast that U.S. shale gas production could reach 36 trillion cubic feet in 2050, up from 1.77 trillion cubic feet in 2000.

About the Project

KAPSARC 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 Points

In 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.

Dataset

This dataset was created by Rithik Kotha

Contents

The global fuel energy price index stood at 153.15 index points in May 2025, up from 100 in the base year 2016. Figures decreased that month due to lower heating fuel demand and a fall in crude oil prices. The fuel energy index includes prices for crude oil, natural gas, coal, and propane. Supply constraints across multiple commodities The global natural gas price index surged nearly 11-fold, and the global coal price index rose almost seven-fold from summer 2020 to summer 2022. This notable escalation was largely attributed to the Russia-Ukraine war, exerting increased pressure on the global supply chain. Global ramifications of the Russia-Ukraine war The invasion of Ukraine by Russia played a role in the surge of global inflation rates. Notably, Argentina bore the brunt, experiencing a hyperinflation rate of 92 percent in 2022. The war also exerted a significant impact on global gross domestic product (GDP) growth. Saudi Arabia emerged with a notable increase of nearly three percent, as several Western nations shifted their exports from Russia to Middle Eastern countries due to the sanctions imposed on the former.

UK Gas rose to 85.31 GBp/thm on July 11, 2025, up 1.32% from the previous day. Over the past month, UK Gas's price has fallen 0.15%, but it is still 17.29% higher than a year ago, 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 July of 2025.

TTF Gas rose to 35.70 EUR/MWh on July 14, 2025, up 0.39% from the previous day. Over the past month, TTF Gas's price has fallen 5.77%, but it is still 12.68% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. EU Natural Gas TTF - values, historical data, forecasts and news - updated on July of 2025.

Natural gas account for 1/4 of the global demand and roughly 1/3 of the US energy demand. After oil, Natural gas is the most dominate sort of energy. So, being about to improve natural gas demand prediction is extremely valuable.

Therefore, this project aims to predict the demand of Natural Gas in the US by combining a wide range of datasets including the time series of major Natural Gas Prices including US Henry Hub. Data comes from U.S. Energy Information Administration. Need to forecast the price of natural gas based on the historical data.

Data

Dataset contains Daily prices of Natural gas, starting from January 1997 to current year. Prices are in nominal dollars.

In the aftermath of the disruptions caused by hurricanes Katrina and Rita, natural gas prices rose to record-high levels. Because natural gas is an important energy source for the United States economy, there was widespread concern that these high prices might cause a significant slowing in the economy-especially among those manufacturing industries that heavily consume natural gas. The analysis presented in this article suggests that output is responsive to natural gas prices in some manufacturing sectors. Although perhaps significant, this result must be balances against the findings that, when the analysis is extended to the macroeconomy (real gross domestic product growth), increases in crude oil prices significantly predict real gross domestic product growth, but natural gas prices do not.

Learn about the importance of crude oil and gas prices as indicators of the global energy market and their impact on various sectors of the economy. Explore how a crude oil and gas prices chart can help analyze price trends and make informed decisions. Understand the interrelation between crude oil and gas prices and how market dynamics, economic factors, and seasonal influences can affect them. Discover how investors, traders, analysts, and policymakers use the crude oil and gas prices chart to gain insigh

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.

Graph and download economic data for Producer Price Index by Industry: Oil and Gas Extraction (PCU21112111) from Dec 1985 to May 2025 about extraction, oil, gas, PPI, industry, inflation, price index, indexes, price, and USA.

Crude Oil rose to 68.75 USD/Bbl on July 11, 2025, up 3.27% from the previous day. Over the past month, Crude Oil's price has risen 1.04%, but it is still 16.37% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on July of 2025.

Brazil BR: Consumer Fuel Price: Compressed Natural Gas: Maximum data was reported at 6.480 BRL/Cub m in Mar 2025. This records a decrease from the previous number of 6.490 BRL/Cub m for Feb 2025. Brazil BR: Consumer Fuel Price: Compressed Natural Gas: Maximum data is updated monthly, averaging 2.664 BRL/Cub m from Jul 2001 (Median) to Mar 2025, with 284 observations. The data reached an all-time high of 7.990 BRL/Cub m in Jul 2022 and a record low of 0.799 BRL/Cub m in Sep 2001. Brazil BR: Consumer Fuel Price: Compressed Natural Gas: Maximum data remains active status in CEIC and is reported by National Petroleum, Natural Gas and Biofuels Agency. The data is categorized under Global Database’s Brazil – Table BR.PF002: Consumer Fuel Price: Brazil: Monthly. Note:The Survey of Price and Margin Fuels Marketing covers gasoline, hydrated ethanol fuel, diesel oil without additive, compressed natural gas (CNG) and liquefied petroleum gas (LPG) which have been surveyed in 555 locations, about 10% municipalities in Brazil, in accordance with procedures established by the Brazilian National Agency of Petroleum, Natural Gas and Biofuels.The results of the Survey of Price and Margin Fuels Marketing contain selling price to the final consumer and purchasing price from the wholesaler of gasoline, hydrated ethanol fuel, diesel oil without additive, CNG and LPG observed in each municipality which has participated in the survey.

Natural gas prices are the highest in the residential sector. In 2023, U.S. households paid an all time high average of 15.2 U.S. dollars per 1,000 cubic feet. Commercial natural gas costs were second-highest, while prices in the electric power sector were the lowest, at around four U.S. dollars on average. Prices for the industrial and electric power customers tend to be close to the wholesale electricity price. All sectors saw a year-on-year increase in natural gas prices in 2022 due to the decline in U.S. natural gas production in the first quarter of 2022, which resulted in high withdrawals of natural gas from storage and an increase in average natural gas prices. The growing natural gas market In recent years, the average natural gas prices for all sectors have been increasing in the United States. In 2022, the residential sector witnessed an increase in natural gas prices higher than 2008, while natural gas prices for other sectors were still lower despite increases in average natural gas prices for those sectors. Meanwhile, consumption of natural gas has increased more than any other fuel type following the 2008 Recession. Petroleum consumption has been more variable, and use of coal has significantly decreased. The price of coal and crude oil had already been increasing since the early 2000s, and was further exacerbated by the financial crisis. Around the same time, the cost of natural gas dropped significantly, making it a more viable economic alternative compared to other fossil fuels. This decrease was in part the result of drastically increased production of shale gas as a result of hydraulic fracturing and other techniques.

UK oil and gas production has diminished over the past decade because old oil fields have matured while developing new commercially viable sources has become increasingly challenging. To combat this, extractors have pooled their resources and formed partnerships to enhance efficiency, while some have benefitted from previous investments in fields coming onstream. Oil and gas extracting companies also reaped the rewards of an upsurge in global prices through 2022-23, leading to sharp revenue growth. However, this quickly turned around in 2023-24, with most major companies’ revenue nosediving along with oil prices, as growing global oil and gas from America flooded the market, slightly outpacing demand. Revenue is expected to expand at a compound annual rate of 3.4% over the five years through 2024-25 to just over £33 billion. This includes a forecast hike of 5.3% in 2024-25; however, profit is slated to inch downward over the year as global oil and gas prices remain somewhat flat in the second half of 2024-25. Global oil and gas prices greatly affect the industry's performance, with the Organisation of the Petroleum Exporting Countries (OPEC) putting supply cuts in place and global tensions resulting in price peaks and troughs. In October 2022, OPEC instituted a supply cut of two million barrels of crude oil per day, driving Brent Crude Oil prices up to US$110 (£87.80) per barrel, which has been extended until March 2025, with a ramping up period through September 2025. This is set to keep oil prices stable by limiting global oil supplies in the face of growing production in non-OPEC countries. The sanctions on Russian oil and gas imports because of the Russia-Ukraine conflict add further impetus to prices. The EU has banned imports of Russian-made oil and gas, providing opportunities for UK exporters. Crude oil prices remain high, but significant oil production from non-OPEC countries threatening a glut in the oil market and a significant dip in global demand (especially from China) has made oil prices plummet since July 2024. Despite mounting tensions in the Middle East having the potential to cut oil supply from the region, the ongoing political tensions have yet to significantly impact global prices, with prices hiking up around 10% in the month to October 2024 but remaining relatively low. Oil and gas prices are likely to continue inching downwards in the coming years as the US is forecast to continue ramping up the global oil and gas supply. This, along with an expected drop in global demand for oil and gas in the long term, will limit growth. The UK government will implement policies to create a more favourable environment for extractors and further investment in the North Sea to improve UK energy security. However, the depletion of natural resources, the expensive cost of extraction, low gas and oil prices and the global energy transition will threaten the industry's long-term viability. The government announced a delay to the ban on the sale of new petrol and diesel cars, along with the relaxation of some net-zero policies in September 2023, which should keep fossil fuel explorers afloat for longer. Revenue is forecast to climb at a compound annual rate of 3.4% over the five years through 2029-30 to just over £39 billion.

During the first quarter of 2025 and into mid-April, U.S. natural gas prices exhibited a mixed trend driven by fluctuating weather patterns, shifting supply dynamics, and varied demand across sectors. In January, prices initially declined as above-average temperatures across key regions limited heating demand, but brief cold snaps later in the month sparked temporary rebounds. February saw modest price recoveries fueled by increased residential consumption during colder spells and a slight dip in production due to freeze-offs in certain basins.

Monthly average retail prices for gasoline and fuel oil for Canada, selected provincial cities, Whitehorse and Yellowknife. Prices are presented for the current month and previous four months. Includes fuel type and the price in cents per litre.

Crude Oil and Natural Gas Market Outlook

The global crude oil and natural gas market size was valued at approximately USD 2.5 trillion in 2023 and is expected to reach around USD 3.1 trillion by 2032, exhibiting a CAGR of 2.4% during the forecast period. The market's growth is significantly driven by the increasing global energy demand and ongoing industrialization in emerging economies. Other contributing factors include technological advancements in extraction and production methods, as well as geopolitical dynamics affecting supply chains and pricing.

One major growth factor is the rising global energy consumption, which continues to surge due to rapid industrialization and urbanization in countries like China, India, and Brazil. These nations are experiencing extensive growth in their manufacturing and transportation sectors, leading to higher demand for crude oil and natural gas. Additionally, natural gas is becoming increasingly popular as a cleaner alternative to coal for power generation, further boosting market demand. Innovations in extraction technologies, such as hydraulic fracturing and horizontal drilling, have also enabled access to previously untapped reserves, enhancing supply capabilities.

Another critical driver is the investment in infrastructure to support the growing energy needs. Governments and private entities are investing heavily in pipelines, refineries, and storage facilities to improve efficiency and ensure a steady supply of crude oil and natural gas. Moreover, advancements in liquefied natural gas (LNG) technologies are making it easier to transport gas over long distances, opening up new markets and driving international trade. The geopolitical landscape also plays a significant role, with oil-rich nations forming strategic partnerships and alliances to control and stabilize global oil prices.

The increasing focus on energy security is also propelling the market. Countries are keen to reduce their dependency on foreign oil and gas imports by investing in domestic production capabilities and exploring renewable energy sources. However, despite the push for renewables, crude oil and natural gas remain indispensable for many applications, including transportation, industrial processes, and residential heating. This dual focus on energy security and diversification continues to stimulate market growth while also promoting technological innovations aimed at increasing production efficiency and reducing environmental impacts.

Regionally, the market outlook varies significantly. North America, led by the United States, remains a dominant player due to its extensive shale gas reserves and technological advancements in drilling. Europe is focusing on diversifying its energy mix and reducing dependency on Russian gas, while Asia-Pacific is experiencing robust growth driven by industrialization and urbanization. The Middle East & Africa continues to be a crucial supplier, leveraging its vast reserves to meet global demand. These regional dynamics play a pivotal role in shaping the global market landscape, creating both opportunities and challenges for stakeholders.

Product Type Analysis

The crude oil segment remains the largest contributor to the overall market, driven by its extensive use in transportation fuels such as gasoline, diesel, and aviation fuel. Its applications extend beyond energy to the production of petrochemicals, which are essential for manufacturing plastics, synthetic rubber, and numerous other industrial goods. The demand for crude oil is also bolstered by its role in various industrial processes and the ongoing investments in refining capacities around the world. Innovations in refining technologies are further enhancing the efficiency and output of crude oil processing, making it a continually vital commodity.

Natural gas, on the other hand, is experiencing rapid growth as a cleaner and more efficient alternative to traditional fossil fuels. Its applications span from electricity generation to residential heating and cooking. The development of LNG technology has revolutionized natural gas distribution, enabling it to be transported across the globe and reach markets that were previously inaccessible. Additionally, natural gas is increasingly used in the industrial sector for processes requiring high thermal energy and in the production of chemicals like ammonia and methanol. The environmental advantages of natural gas, such as lower carbon emissions compared to coal and oil, are also contributing to its rising popularity.

Furthermore, the exploration and production seg