The Henry Hub Natural Gas Spot Price was 1.93 as of February 09, 2024. Like oil prices, natural gas prices vary depending on variables that impact supply and demand. Usually, if the economy is weak, demand is low, so prices are low. Current US reserves of natural gas is high and supply often outstrips demand. However, many utilities are switching power generation from inefficient coal to natural gas, which will boost demand. Natural gas is measured in volume (cubic feet) but priced in heating content (MM/BTUs, millions of British thermal units).
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