Prices on this page last updated 4 October 2026, using Henry Hub, AECO C, TTF and JKM data from OilPrice.com.
The natural gas price at Henry Hub stands at $3.035 per MMBtu, up 2.02% over the past month and up 2.29% in the latest session, extending the recovery from August’s lows. The TTF-equivalent benchmark was flat at $24.46 per MMBtu, while JKM (Asia) rose 7.1% to $25.79 per MMBtu, both far above Henry Hub. Canada’s AECO C benchmark rebounded 53.4% over the month to $1.350 per MMBtu from last month’s $0.880, though it remains the lowest of the four by a wide margin.
Current Natural Gas Price
| Benchmark | Price | Unit | Change | As of |
|---|---|---|---|---|
| Henry Hub (Louisiana) | $3.035 | $/MMBtu | +2.02% month, +2.29% day | 4 October 2026 |
| AECO C (Canada) | $1.350 | $/MMBtu | +53.41% month, +0.75% day | 4 October 2026 |
| TTF-equivalent (Europe) | $24.46 | $/MMBtu | -0.16% month, -0.27% day | 4 October 2026 |
| JKM (Asia-Pacific) | $25.79 | $/MMBtu | +7.06% month | 4 October 2026 |
Data sourced from OilPrice.com. Monthly changes compare with the 6 September 2026 update.
Natural Gas Price History
The natural gas price at Henry Hub spiked to $7.72/MMBtu in January 2026 as Strait of Hormuz disruptions reduced global LNG supply, retreated and stabilised through spring, then fell sharply through July into early August before recovering through September. A further 2.02% gain to $3.035 in the month to early October keeps Henry Hub on that recovery path, while European and Asian gas benchmarks remain roughly eight times higher.
| Month | Henry Hub ($/MMBtu) | TTF-equivalent ($/MMBtu, approx) |
|---|---|---|
| 4 October 2026 | $3.035 | $24.46 |
| 6 September 2026 | $2.975 | $24.50 |
| 4 August 2026 | $2.6841 | ~$19.50 |
| 1 July 2026 | $3.34 | ~$14.85 (€43.51) |
| May 2026 | $2.94 | ~$15.00 (€43.90) |
| April 2026 | $2.77 | ~$13.70 (€40.10) |
| March 2026 | $3.04 | ~$15.10 (€44.20) |
| February 2026 | $3.62 | ~$16.56 (€48.50) |
| January 2026 | $7.72 | ~$19.90 (€58.30) |
What Is Driving Natural Gas Prices
Henry Hub, TTF and JKM moved by different amounts this month: Henry Hub gained 2.0%, JKM 7.1%, and TTF was flat. JKM has regained the lead over TTF, detailed further on OGSN’s LNG price page.
On the European and Asian side, the driver remains the same: as of early September the Strait of Hormuz remained severely restricted six months into the conflict, constraining roughly a fifth of global LNG trade, with European storage at its lowest level for this time of year in nearly two decades.
On the Henry Hub side, this month’s gain extends the recovery from August’s sharp, unexplained decline, though the specific driver behind either move remains unconfirmed without a fresh EIA storage report. US working gas stocks were running above the five-year average as of late spring; whether that surplus has narrowed enough to explain the price recovery, or whether stronger export pull is the bigger factor, would need current storage data to confirm.
AECO C, the Canadian benchmark, rebounded 53% over the month to $1.350 from $0.880, though from a very low base and still less than half the Henry Hub price. Large percentage swings on a regional Canadian hub are often driven by localised pipeline capacity or weather-related demand swings rather than the broader North American gas market, and are worth treating as a distinct, regional story rather than folding into the Henry Hub narrative. According to the IEA Gas Market Report, European gas storage refill rates have continued lagging seasonal norms through Q3 2026.
Natural Gas Price Storage Economics
This page’s TTF forward curve data cannot be kept current from the same benchmark feed used elsewhere on this page, since it requires futures strip pricing rather than front-month spot prices. For a live read on the TTF curve and whether the winter premium structure has widened or narrowed alongside spot, check ICE’s Dutch TTF Natural Gas Futures product page directly.
For European gas storage operators, a Henry Hub-TTF spread of about $21.43 per MMBtu, marginally narrower than $21.53 a month ago, keeps the commercial case for US LNG exports intact. Underground storage operators, caverns, depleted fields, and aquifer storage, should watch the live TTF curve to confirm whether the summer-winter spread supporting seasonal injection economics has moved alongside spot.
In the US, Henry Hub’s continued recovery, following a storage position that was above the five-year average as of late spring, is worth watching against a fresh storage report to determine whether near-term injection incentive has firmed alongside the price. For US natural gas storage companies, the sustained arbitrage to European and Asian prices remains the clearer near-term signal regardless of the domestic storage picture.
The same signal matters for LNG terminal operators weighing export and import throughput.
Checking Regional US Hub and UK Prices
This page tracks Henry Hub, AECO C, TTF-equivalent, and JKM benchmarks, updated monthly against a live source. Regional US hub pricing (Houston Ship Channel, New York City, Midwest) and detailed EIA weekly storage data move on separate cycles not captured in this feed; check the EIA’s natural gas data directly for those figures.
UK NBP pricing is no longer tracked live on this page; see OGSN’s UK gas price page for structural context on that market.
Natural Gas Price in Currency
| Currency | Price per MMBtu | Exchange Rate Used |
|---|---|---|
| US Dollar (USD) | $3.035 | Benchmark |
| Euro (EUR) | €2.696 | 0.88821 |
| British Pound (GBP) | £2.292 | 0.75514 |
| Japanese Yen (JPY) | ¥479.11 | 157.86 |
| Chinese Yuan (CNY) | ¥20.35 | 6.7063 |
| Indian Rupee (INR) | ₹292.06 | 96.232 |
Exchange rates are mid-market rates as at 4 October 2026. Figures rounded to two/three decimal places as appropriate.
Natural Gas Price Per MMBtu, Therm and MWh
| Unit | Price | Notes |
|---|---|---|
| Per MMBtu (Henry Hub) | $3.035 | US benchmark unit |
| Per therm | $0.3035 | 1 therm = 0.1 MMBtu |
| Per MWh | $10.358 | 1 MMBtu = 0.293 MWh; $3.035 ÷ 0.293 |
| Per GJ | $2.877 | 1 MMBtu = 1.055 GJ; $3.035 ÷ 1.055 |
| Per cubic metre | $0.1150 | 1 MMBtu ≈ 26.39 m³ at standard conditions |
| TTF equivalent | $24.46 | European benchmark; not derived from Henry Hub |
| JKM equivalent | $25.79 | Asia-Pacific benchmark; not derived from Henry Hub |
Natural Gas Price Outlook
The EIA Short-Term Energy Outlook had projected Henry Hub to average between $3.00 and $3.50 per MMBtu through Q3 2026. This month’s $3.035 reading sits at the bottom of that range, having recovered from well below it in August, suggesting the outlook’s central case may still hold if the recovery continues.
For European gas, the TTF outlook remains tied directly to the Strait of Hormuz situation and European storage refill, both covered in more depth on OGSN’s dedicated LNG price page. The Henry Hub-TTF spread remains wide at about $21.43, keeping the commercial case for US LNG exports intact.
For LNG terminal operators and gas storage companies, the clearest signal in this month’s data is JKM’s return above TTF while Henry Hub drifts higher, keeping the US-to-Asia spread wide at about $22.76. Whether Henry Hub’s recovery continues, and whether AECO C’s 53% rebound proves lasting, are the two items worth confirming against fresh data before the next update.
What is the current natural gas price?
Natural gas prices fluctuate daily based on benchmark trading on major exchanges including NYMEX (Henry Hub) and ICE (TTF, NBP). This page is updated monthly with the latest available benchmark data. For real-time prices, refer to CME Group or ICE directly.
What is driving natural gas prices?
Natural gas prices are driven by LNG export demand, seasonal heating and cooling load, domestic production from US shale basins, underground storage levels, and geopolitical events affecting global LNG supply routes. The Henry Hub price is particularly sensitive to US LNG export volumes and winter weather forecasts.
What is the difference between Henry Hub, TTF and NBP?
Henry Hub is the US national benchmark, located in Louisiana and traded on NYMEX. TTF (Title Transfer Facility) is the European benchmark traded on ICE in the Netherlands, quoted in euros per MWh. NBP (National Balancing Point) is the UK benchmark quoted in pence per therm. The three benchmarks trade at significantly different price levels reflecting regional supply and demand dynamics, pipeline infrastructure, and LNG import capacity.
How does natural gas price affect tank terminal storage demand?
When natural gas and LNG markets move into seasonal contango — where winter delivery prices exceed summer spot prices — injecting gas into underground storage or LNG tanks becomes commercially attractive. European gas storage operators monitor the winter premium on the TTF forward curve when making injection decisions. A spread of €10 or more between summer and winter contracts typically justifies active storage programmes.
What is the natural gas price in different currencies?
Natural gas is benchmarked in US dollars per MMBtu at Henry Hub, but European and Asian buyers transact in local currencies. This page includes a currency conversion table covering EUR, GBP, JPY, AED, CNY, and INR, updated monthly from mid-market exchange rates. TTF prices in EUR/MWh and NBP prices in pence per therm are shown separately as independent regional benchmarks.
What is the natural gas price per therm and MWh?
Natural gas is most commonly quoted per MMBtu in the US, per MWh in Europe, and per therm in the UK. This page includes a unit conversion table covering MMBtu, therm, MWh, GJ, and cubic metre — all calculated from the current Henry Hub benchmark price.
How current is the price data on this page?
Price data on this page is updated monthly. Figures reflect the most recent available benchmark data from the EIA, ICE, and major exchange sources. For real-time tick data, refer directly to CME Group or ICE.