US Natural Gas Prices Trade High as Heating Needs Spike

In the Northeast region, wholesale gas prices have risen despite ample supply.

The AES Corporation 495-megawatt Alamitos natural gas-fired power station stands in Long Beach, Calif., on Oct. 1, 2009. David McNew/Getty Images

The price of natural gas is trading at elevated levels as cold weather sweeps across the United States, triggering higher heating demand from consumers.

Natural gas futures at Henry Hub—a pricing hub for North America—were trading at $3.35/MMBtu as of Jan. 3, up more than 10 percent from $3.04 in early December. Spot prices have been rising since November, jumping from $1.21 on Nov. 11 to $3.40 on Dec. 31, an increase of more than 180 percent.