U.S. Henry Hub Natural Gas Prices in 2023 Lowest Since Mid-2020

The U.S. Energy Information Administration (EIA) is out with official numbers for 2023 concerning the price of natural gas traded at the benchmark Henry Hub in southern Louisiana. The Henry Hub natural gas price averaged $2.57 per million British thermal units (MMBtu) in 2023, about a 62% drop from the 2022 average annual price. Bear in mind Russia invaded Ukraine in early 2022, sending the natural gas market into a steep climb due to worries that Europe would run out of gas if Putin decided to cut them off.

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