2024 NatGas Prices “Put Through the Wringer” – Lowest Spot Price EVER

We have a post-mortem for the price of natural gas in 2024, and it ain't pretty. With respect to the "front month" NYMEX futures price average during 2024, BofA (Bank of America) Global Research said in a report that the Henry Hub natural gas price averaged just $2.41 per MMBtu last year. It was “the lowest level since 2020 and second lowest level in at least 25 years.” Ouch. The U.S. Energy Information Administration (EIA) did a review of the Henry Hub spot (physically traded) price for 2024 and found it averaged $2.21 per MMBtu. That's the lowest average annual price in inflation-adjusted dollars EVER reported. Double ouch.

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