Natural Gas U.S. Prices

Natural gas U.S. prices averaged USD 3.35 per MMBtu in October, up 11.2% from September. On 31 October, the commodity traded at USD 4.12 per MMBtu, up 23.7% from 30 September.

Prices rose for the second straight month in October to hit a four-month high. The U.S. hiked LNG exports 11.0% from the prior month to a record 10.1 million metric tons—the first country to reach this level. Moreover, U.S. natural gas output fell from September, while forecasts pointed to colder weather going into November, boding well for demand. All in all, the margin between U.S. natural gas inventories and the five-year seasonal mean fell to 4.6% in the week to 24 October, from above 6% in late September.