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Tariff War, Bullish Winter Fundamentals Support Natural Gas Forward Price Uplift

Natural Gas Intelligence · last updated

Prompt month natural gas forward prices climbed during the Feb. 27-March 5 trading period as a tariff war and a possible heavy lift for producers to rebuild inventories ahead of the next peak demand season added uncertainty.

Graph showing NGI's Henry Hub forward fixed natural gas price snapshot.

Fixed prices for April were up an average of 32.8 cents during the week-long stretch, NGI’s Forward Look data show. Benchmark Henry Hub was 54.4 cents higher to $4.452/MMBtu.

President Trump’s tariffs on Mexico and Canada – including 10% on energy imports from the latter – took effect Tuesday. However on Thursday, Trump from the White House announced a reprieve.