Commodity
Natural Gas
Natural gas price, used to track energy supply-demand and seasonal cost pressure.
At a glance
Natural Gas: latest value and prior change
As of 2026-07-23, Natural Gas is 2.97 USD/MMBtu. It is 0.05 USD/MMBtu higher than 2.92 USD/MMBtu on 2026-07-22.
Across 645 available observations from 2024-01-02 to 2026-07-23, the latest value is at the tie-adjusted 46th percentile.
- Observed on
- Default comparison window
- 2024-01-02–2026-07-23
- Observations · observed cadence
- 645 · Daily
- Data source
- FRED
A high or low percentile does not by itself make the indicator positive, negative, or a buy or sell signal.
Time-series chart
Natural Gas
2024-01-02–2026-07-23
Long-history series are stored as real provider observations. Index, FX, VIX, and ratio charts use historical backfill where providers expose it; Korean investor flow and margin-credit feeds expand as stable historical endpoints become available.
Interpretation guide
Natural gas futures: a price ruled by the calendar
This series tracks U.S. Henry Hub natural gas futures in dollars per MMBtu. Few commodities are as seasonal: winter heating, summer cooling, and the weekly U.S. storage report drive outsized swings in the price.
The storage cycle is the price cycle
U.S. gas alternates between injection seasons, when storage builds in spring and autumn, and withdrawal seasons in summer and winter. The starting point for interpretation is therefore not the absolute price but whether inventories sit above or below the seasonal norm.
- Entering winter with storage well below the five-year average makes prices hypersensitive to cold-snap news.
- In well-supplied years, even severe cold tends to produce rallies that fade quickly.
- Summer heat waves add a second seasonal driver through air-conditioning power demand.
How LNG tied Henry Hub to the world
Growing U.S. LNG export capacity has partially linked the once-isolated Henry Hub market to European and Asian gas prices. The market remains regional at heart, though, so pipeline constraints or an export-terminal outage inside the U.S. can still move the price sharply.
- An unplanned export-terminal outage traps supply at home and can depress Henry Hub prices.
- Overseas shocks such as a European gas crunch feed into Henry Hub with a lag via export demand.
- Daily volatility ranks among the highest of any commodity, so leveraged products deserve extra caution.
The long road to a Korean utility bill
Korea imports LNG under long-term contracts and spot cargoes priced mostly off oil-linked formulas or the Asian JKM benchmark, so Henry Hub does not translate directly into domestic city-gas or power tariffs. Use this series as a compass for global gas balances while allowing for contract structure and pass-through lags at home.
- Do not map a Henry Hub spike straight onto Korean tariff hikes; import contracts buffer the link.
- If gas strength persists, watch TapeFlow's Korea CPI series for a delayed utility-price channel.
- Power-sector fuel costs move with oil as well, so cross-check against the WTI series.
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