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US gas producers are taking a cautious approach to adding output in 2025, according to S&P Global. Q1 Henry Hub cash prices averaged $4.16 per MMBtu, up 70% from Q4 2024.
The forward curve shows winter 2025-26 prices above $5 per MMBtu.
Producer discipline and firm forward prices support higher gas costs, with LNG feedgas demand rising as a key support.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.