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RSS feed source: US Energy Information Administration

In-brief analysis

December 12, 2024

Data source: Refinitiv Eikon
Note: Prices are adjusted for inflation based on the October 2024 Consumer Price Index.

The U.S. benchmark Henry Hub daily natural gas price fell to $1.21 per million British thermal units (MMBtu) on November 8 and November 11, 2024, an all-time low in inflation-adjusted dollars. Four of the record-low daily prices when adjusting for inflation occurred in November 2024, and the remaining six occurred in 2024 as well. The Henry Hub spot price in November averaged $2.12/MMBtu, the lowest average price for that month ever when adjusting for inflation.

Robust supply and constraints on demand contributed to the record-low prices. Mild autumn weather persisted in the first half of November, limiting natural gas consumption for heating. U.S. inventories ended the injection season on October 31 at 3,922

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