U.S. spot natural gas prices for March rose to a three-year high at the Henry Hub (NG-W-HH-SNL) benchmark in Louisiana, according to pricing data from financial firm LSEG on Tuesday.

Gas prices averaged $4.13 per million British thermal units (mmBtu) in February, their highest level for that month since 2022. That compares with a 32-year low of $1.49 in March 2024 and a five-year (2020-2024) average of $2.62 for the month.

In calendar 2024, prices at the Henry Hub averaged a four-year low of around $2.19 per mmBtu, the lowest level since 2020 when prices collapsed to a 25-year low of $2.03 as pandemic-related lockdowns destroyed demand.

That compares with $2.54 in calendar 2023 and an average of $3.62 during the prior five years (2018-2022).

For a list of daily U.S. spot gas cash prices from SNL Energy, including Henry Hub, see (0#SNL-NG).
Source: Reuters