Market forces are driving up gas prices in the US, but much will depend on winter temperatures
Winter warning signs for US gas market
Upward price pressures may benefit producers, but consumers will be hoping for a mild winter this year
Soaring gas prices in Europe and Asia have understandably taken all the headlines in recent weeks. But conditions are also ripe for a North American gas price hike, especially if there is a repeat of the Arctic cold snap that struck in the early months of 2021. “A cold winter has the potential to send US natural gas prices into the $15-20/mn Btu range for a prolonged period given the inelastic natural of supply and demand currently,” says Matthew Palmer, senior director, global gas, at information provider IHS Markit. The EIA forecasts that gas prices will most likely average $5.67/mn Btu between October and March, the highest winter price since 2007-08. In mid-October, Henry Hub had already
Also in this section
10 November 2025
The Russian firm made a significant attempt to expand overseas over the past two decades but is now trying to divest its global operations
10 November 2025
OPEC+ has proven to be astute at bringing back oil production, but mysteries around Chinese buying, missing barrels and oil-on-water have left the group in wait-and-see mode
7 November 2025
The Russian company’s German assets are under Berlin’s management and are exempt from sanctions, for now, but a permanent solution still needs to be found
6 November 2025
After years of pursuing ideologically driven climate leadership, Western powers are now stepping back under mounting political pressure and rising populist opposition—prompting concern essential climate action could be sidelined
