Natural Gas

Natural Gas is a data page on the Macro desk of Glassbox Auditing. Henry Hub, the futures curve, storage vs the five-year average, production, LNG exports, power burn, what homes and industry pay, and Europe and Japan prices.

Last updated: 5 Nov 2026.

What is the latest reading?

Henry Hub spot price: $2.63/MMBtu as of 3 Nov 2026, -31.2% since Jan 1997. Source: FRED: Henry Hub spot (DHHNGSP, from EIA); IMF import prices for Europe (PNGASEUUSDM) and Japan LNG (PNGASJPUSDM).

What is on this page today?

Natural gas futures settled at $3.00 per MMBtu for December 2026 delivery and $3.02 for April 2028, as of 6 Nov — The line is the curve by delivery month · highest $4.29 (Jan 2028), lowest $2.36 (Apr 2027) · the front contract was $2.90 on 30 Oct · a futures price is a trade today, not a forecast (NYMEX, 5 Nov 2026)
Henry Hub natural gas: $2.63 per MMBtu, -4.7% on the week — $2.76 a week earlier (EIA, 2 Nov 2026)
Gas in storage: 3,801 Bcf in the week to 30 Oct, +1.5% vs the five-year average — 77 Bcf injected on the week (EIA, 29 Oct 2026)
Europe paid $25.49 per MMBtu for imported natural gas in September 2026, Japan $26.64, against $2.95 at Henry Hub — Europe's price is $22.54 above Henry Hub, the gap that pays for liquefying and shipping U.S. gas · $11.00 a year earlier (IMF and EIA, 29 Sep 2026)
U.S. dry gas production was 115.8 billion cubic feet a day in August 2026, consumption 90.6 and LNG exports 16.6 — Power plants burned 50.2 · imports 7.5 · production 108.6 a year earlier · monthly totals as a daily average (EIA, 30 Aug 2026)
Homes paid $27.05 per thousand cubic feet for natural gas in August 2026, industry $4.34 and power plants $3.22 — $26.26 for homes a year earlier · the delivered price, pipes and distribution included; homes pay most in summer when little is used (EIA, 30 Aug 2026)

Where does the data come from?

Items on this page come from NYMEX; EIA; IMF and EIA. Each item links to its own source. All sources, how items are checked.

What does this page lead to?

Fuel & Charging (Domestic Intelligence): Gas plants set the price of power in much of the U.S., so higher Henry Hub prices tend to raise retail electricity rates and the cost of charging an EV at home. (moves the same way; months; economy scale) Source: EIA electricity retail sales (residential price by state).
Prices & Inflation (Macro): Natural gas heats about half of U.S. homes and fuels much of the power supply, so it feeds the utility gas and electricity lines of CPI. (moves the same way; 1-6 months; economy scale) Source: EIA natural gas data (API v2): weekly storage; monthly production, consumption, trade and prices.
Energy Industry (Companies): Higher Henry Hub prices raise revenue for gas producers, whose output is sold at or near the hub price. (moves the same way; the next quarterly report; company scale) Source: EIA natural gas data (API v2): weekly storage; monthly production, consumption, trade and prices.
Resources & Energy (World Powers): U.S. LNG exports tie Henry Hub to European and Asian gas prices; when U.S. gas is cheap against them, export terminals run full and more cargoes sail. (either way, depending on the cause; months; global scale) Source: FRED: Henry Hub spot (DHHNGSP, from EIA); IMF import prices for Europe (PNGASEUUSDM) and Japan LNG (PNGASJPUSDM).
Oil to Prices (Macro): Natural gas is the main feedstock for nitrogen fertilizer, so gas prices feed the fertilizer and farm producer prices traced from energy to food. (moves the same way; months; sector scale) Source: BLS producer price indexes: diesel fuel, farm products, fertilizer, processed foods, via FRED.
Electricity (Macro): Natural gas is the largest fuel for U.S. power generation, so a rise in its price tends to lift what generators charge and, with a lag, the retail electricity prices customers pay. (moves the same way; weeks to months; economy scale) Source: EIA natural gas data (API v2): weekly storage; monthly production, consumption, trade and prices.

What feeds this page?

AI Supply Chain (AI): New data centers draw on the grid, and gas plants supply the largest share of U.S. power, so the build-out adds to gas burned for electricity. (moves the same way; years; sector scale) Source: EIA natural gas data (API v2): weekly storage; monthly production, consumption, trade and prices.
Cloud & Hubs (Companies): Data centers draw power around the clock and much of the new generation built for them burns gas, so growing data-center floor space raises gas demand for power. (moves the same way; years; sector scale) Source: EIA natural gas data (API v2): weekly storage; monthly production, consumption, trade and prices.
Energy Industry (Companies): Operators, pipelines and LNG terminals in the directory produce and move the gas priced on Natural Gas; new LNG export capacity adds demand on Henry Hub. (moves the same way; months; sector scale) Source: EIA natural gas data (API v2): weekly storage; monthly production, consumption, trade and prices.
Technology (Global Intelligence): Data centers draw large, steady amounts of power, and gas-fired plants supply much of the extra generation utilities plan for them, which adds to the power-sector gas burn on Natural Gas. (moves the same way; years; economy scale) Source: EIA natural gas data (API v2): weekly storage; monthly production, consumption, trade and prices.
Sanctions & Watchlists (Global Intelligence): Sanctions and Russia's cuts to pipeline gas in 2022 sent European gas prices far above Henry Hub and drew record U.S. LNG exports to Europe. (moves the same way; months; global scale) Source: FRED: Henry Hub spot (DHHNGSP, from EIA); IMF import prices for Europe (PNGASEUUSDM) and Japan LNG (PNGASJPUSDM).
Good News (Global Intelligence): Wind and solar output displaces gas-fired generation in the hours it runs, so growth in renewables tends to lower power-sector gas burn. (moves the other way; years; economy scale) Source: EIA natural gas data (API v2): weekly storage; monthly production, consumption, trade and prices.
Energy (Global Intelligence): An outage at a big U.S. LNG export terminal leaves more gas at home and less abroad, which tends to lower Henry Hub and raise European and Asian prices, as after the Freeport LNG fire in June 2022. (either way, depending on the cause; days to weeks; global scale) Source: FRED: Henry Hub spot (DHHNGSP, from EIA); IMF import prices for Europe (PNGASEUUSDM) and Japan LNG (PNGASJPUSDM).
Oil & Tankers (Global Intelligence): About a fifth of world LNG trade, mostly Qatar's, also passes through Hormuz, so a disruption there tends to raise European and Asian gas prices as well as crude. (moves the same way; days; global scale) Source: EIA, Today in Energy (16 Jun 2025): the Strait of Hormuz remains a critical oil chokepoint.
Wildfires & Hurricanes (Global Intelligence): Storms that shut Gulf Coast LNG export terminals keep gas in the U.S., which tends to lower Henry Hub while the terminals are out. (moves the other way; days to weeks; sector scale) Source: EIA natural gas data (API v2): weekly storage; monthly production, consumption, trade and prices.
Resources & Energy (World Powers): Europe's and Asia's dependence on imported gas, laid bare when Russian pipeline flows fell in 2022, is the demand for U.S. LNG exports that ties Henry Hub to world prices. (moves the same way; months; global scale) Source: EIA natural gas data (API v2): weekly storage; monthly production, consumption, trade and prices.