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Natural Gas Prices Surge Amid Cold Weather and High Demand

12/9/2025

29 4 Full Breakdown

Summary

Story summary

U.S. natural gas prices rose above $5 per MMBtu, the highest in three years, due to cold weather and strong export demand.
Natural gas production is at record levels, aided by rising drilling activity for natural gas wells.
Propane inventories remain high, and production keeps prices favorable.
The price gap with European natural gas is narrowing, and demand is expected to stay strong through winter, shaping exports and pricing.

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Story summary

U.S. natural gas prices rose above $5 per MMBtu, the highest in three years, due to cold weather and strong export demand.
Natural gas production is at record levels, aided by rising drilling activity for natural gas wells.
Propane inventories remain high, and production keeps prices favorable.
The price gap with European natural gas is narrowing, and demand is expected to stay strong through winter, shaping exports and pricing.