U.S. spot natural gas prices at the Henry Hub benchmark in Louisiana fell to a three-year low in December, according to data from financial firm LSEG.

Gas prices averaged $2.52 per million British thermal units (mmBtu) in December 2023, their lowest since dropping to a monthly average of just $2.22 in 2020. That compares with $5.53 in December 2022 and a five-year (2018-2022) average of $3.61 for the month.

In calendar 2023, gas fell to an average of $2.56 per mmBtu, its lowest since 2020 when prices collapsed to a 25-year low of $2.03 as pandemic lockdowns destroyed demand for the fuel.

That compares with $6.42 in calendar 2022 and a five-year (2017-2021) average of $2.93.
Source: Reuters (Reporting by Scott DiSavino)