U.S. spot natural gas prices for the month of August fell to a 26-year low at the Henry Hub NG-W-HH-SNL benchmark in Louisiana, according to pricing data from financial firm LSEG.

Gas prices averaged $1.99 per million British thermal units (mmBtu) in August, their lowest since hitting $1.91 during the month in 1998. That compares with $2.58 in August 2023 and a five-year (2019-2023) average of $3.99 for the month.

So far in 2024, prices at the Henry Hub have averaged $2.09 per mmBtu.

In calendar 2023, gas fell to an average of $2.54 per mmBtu, its lowest since 2020 when prices collapsed to a 25-year low of $2.03 as pandemic lockdowns destroyed demand.

That compares with $6.42 in calendar 2022 and a five-year (2017-2021) average of $2.93.

Prices are in U.S. dollars per mmBtu and are derived from LSEG data.
Source: Reuters (Reporting by Scott DiSavino, Editing by Tomasz Janowski)