Natural Gas U.S. Prices

Natural gas U.S. prices averaged USD 2.89 per MMBtu in August, down 12.6% from July. On 29 August, the commodity traded at USD 3.00 per MMBtu, down 3.5% from 31 July.

Prices plunged for the second consecutive month in August, reaching a 10-month low. U.S. gas inventories rose slightly less than expected by the market, but remained 5.0% above the five-year seasonal average in the week to 22 August. This is largely a result of record U.S. natural gas production, plus forecasts for cooler weather in the U.S. in the late summer. That said, some support to prices came from LNG exports, which hit a record high in August.