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United States of America – Natural gas accounts for nearly a quarter of total energy consumption in the United States. The natural gas futures contract on the NYMEX Division is widely used as a national benchmark price. The futures contract is priced in 10,000 million British thermal units (mmBtu) and the price is based on delivery at Louisiana’s Henry Hub, which connects 16 intra- and interstate natural gas pipeline systems that draw supplies from the region’s abundant gas deposits.
The United States is the largest producer of natural gas, followed by Russia. The commodity has been the source for filling the United States sustainability gap and to control responsibility and scale transitions from coal and oil. As a result in combination with the unprovoked war crimes in Ukraine we have seen the 4th highest price of natural gas in history this June.
Natural Gas saw a 52 week high of $9.33 USD/MMBtu on June 6, 2022 and has since come down to level seen last year trading at $6.22 which is much lower then analysts predicted for the quarter. Forecasts from Trading Economics were calling for trading at $7.34 this quarter and analysts at Trading Economics also forecast it to trade at $8.69 in 12 months. The moves are bringing the commodity down much faster than anticipated.
The highest prices on record for Natural Gas are:
- October of 2005 where it traded at $13.42
- December of 2005 where it traded at $13.05
- June of 2008 where it traded at $12.69
- June of 2022 where it traded at $9.33
cover photo credit by aerial-drone