Commodities
Natural gas price chart
US natural gas is a domestically produced fuel used for heating, electricity generation and industrial processes, benchmarked at the Henry Hub distribution point in Louisiana. This chart tracks its US dollar price per million British thermal units (MMBtu).
The price shown is a CFD (contract for difference) that tracks the US natural gas futures market, not a NYMEX futures contract itself - a derivative built to follow the underlying price continuously.
Natural gas chart
OANDA:NATGASUSDCFD on US natural gas (OANDA NATGASUSD).
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At a glance
| Full name | US natural gas (Henry Hub) |
|---|---|
| Common ticker | NATGAS / NG |
| TradingView symbol | OANDA:NATGASUSD |
| Instrument type shown | CFD tracking US natural gas futures |
| Underlying market / benchmark | Henry Hub, Louisiana, the delivery point for NYMEX (CME Group) Natural Gas futures |
| Quotation unit | US dollars per million British thermal units (MMBtu) |
| Market schedule | Trades close to 24 hours a day, five days a week, with a short daily break |
| Spot vs futures vs CFD | The exchange-listed instrument is a futures contract with monthly delivery months; the CFD shown here tracks that futures price continuously |
| Contract month / rollover | The front-month NYMEX Natural Gas contract expires monthly, and natural gas futures curves often show pronounced seasonal shape reflecting winter heating demand; continuous charts roll between months |
| Data delay | Real-time streaming price from the data provider |
What is Natural gas?
Natural gas comes from dedicated gas wells and as associated gas alongside oil production, particularly from US shale basins. It moves through an extensive pipeline network and, increasingly, by sea as liquefied natural gas (LNG).
The US benchmark price is set at Henry Hub, a pipeline interconnection point in Erath, Louisiana, that is the delivery location for the NYMEX Natural Gas futures contract on CME Group. Unlike oil, natural gas is much less internationally fungible - it typically needs pipelines or costly LNG infrastructure to move - so regional prices (US, European, Asian) can diverge substantially.
How to read this chart
Rising natural gas prices often reflect colder-than-expected winter weather, hotter-than-expected summer weather lifting cooling demand, falling storage levels, or strong LNG export demand. Falling prices can reflect mild weather, high production or rising storage inventories.
Because gas demand is highly seasonal, the futures curve typically prices winter delivery months higher than shoulder-season months. A continuous chart rolling between contract months can show step changes at rollover that reflect this seasonal shape rather than a change in the immediate market view.
US natural gas prices are largely disconnected from oil prices and from European or Asian gas benchmarks, since limited pipeline and LNG capacity constrains arbitrage between regions. The price shown here reflects US domestic conditions specifically.
What moves it?
- Weather and degree days
- Heating degree days in winter and cooling degree days in summer directly drive gas demand for home heating and for gas-fired power generation used for air conditioning.
- Weekly storage reports
- The US Energy Information Administration's weekly natural gas storage report shows how much gas is held in underground storage relative to seasonal norms, a closely watched short-term price driver.
- LNG export capacity
- US liquefied natural gas export terminals let domestic gas reach international buyers; growth in export capacity has increasingly linked US prices to global gas demand.
- Associated gas production
- A meaningful share of US gas is produced alongside oil drilling, so changes in oil drilling activity can affect gas supply independently of gas-specific price incentives.
Why people watch it
Utilities, manufacturers and any business with significant heating or gas-fired power costs use this price for budgeting, hedging discussions and energy procurement contracts.
Because gas prices affect electricity generation costs in many markets, finance and operations teams also watch it as a leading indicator of near-term energy cost pressure, particularly heading into winter.
Natural gas vs WTI crude oil
Natural gas and WTI crude oil are both US-benchmarked energy commodities, but they behave very differently. Oil is a globally traded, seaborne-transportable commodity linked to international benchmarks, while US natural gas is largely a regional market shaped by pipeline infrastructure and, increasingly, LNG export capacity.
Natural gas also shows far more pronounced seasonality than oil, typically pricing higher heading into winter heating season, while oil demand is comparatively steady through the year and driven more by macroeconomic and geopolitical factors.
Frequently asked questions
Why is Henry Hub the benchmark location?
Henry Hub is a major pipeline interconnection point in Louisiana with access to numerous supply and demand regions, which made it the delivery point for the NYMEX Natural Gas futures contract.
Why does US gas trade so differently from European gas prices?
Limited pipeline and LNG infrastructure between regions restricts arbitrage, so US, European and Asian gas prices can diverge significantly based on local supply and demand.
Why is natural gas so seasonal?
Demand rises sharply for winter heating and, to a lesser extent, summer cooling, while production is comparatively steady, producing a seasonal futures curve.
Does the chart reflect physical gas held in storage?
No. It's a CFD tracking the futures market price; it doesn't represent ownership of physical gas or storage capacity.
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Sources
Written and maintained by the StandardsDesk editorial team. Last reviewed 2026-08-06. The text here is deliberately evergreen: it is not rewritten every time the market moves, and no price or level is quoted anywhere outside the chart itself.
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