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The chart shows a 75-year history of annual United States natural gas production and average wellhead prices from 1930 through 2005. Prices paid by consumers were increased above those levels by processing and distribution costs.
Natural gas prices surged more than 20% on Monday after a wave of forecasts over the weekend predicted incoming arctic air could set the U.S. up for the coldest January in a decade or more.
Price per million BTU of oil and natural gas in the US, 1998-2015 Natural gas prices spiked to $23.86 on February 17, 2021 because of the Texas power crisis. [14] In February 2003 there was a similar spike in natural gas prices because of shortages. [15]
2021 United Kingdom natural gas supplier crisis; Economic impact of the Russian invasion of Ukraine; Energy crisis; Global energy crisis (2021–2023) National Balancing Point (UK) Natural gas prices; Strategic natural gas reserve; Title Transfer Facility; World food crises (2022–2023)
And in Europe, natural gas prices jumped to 2024 highs this past week after Ukrainian troops crossed into Russia and claimed the capture of a key gas transit hub.
Gas prices within the last 10 years highlight how volatile the market can be. When looking at historical data, gas prices were the same in 2011 as they were in 2023 — $3.52 per gallon.
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On Tuesday, natural gas futures were hovering just above $2.30 per million British thermal units (MMBtu). Contract prices are down 25% over the past month, and about 40% lower year to date.
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