2025年11月,尽管生产强劲和需求疲软,天然气价格仍保持在接近3美元/MMBtu的水平,由于AI驱动的需求和出口增长,前期价格上升。 Natural gas prices held near $3/MMBtu in November 2025 despite strong production and weak demand, with forward prices rising due to AI-driven demand and export growth.

在截至 9 月 19 日当周的 750 亿立方英尺在线 EIA 储存注入的支撑下，11 月天然气价格在交易波动中保持在 3 美元/百万英热单位附近。 November natural gas prices held near $3/MMBtu amid volatile trading, supported by an in-line EIA storage injection of 75 billion cubic feet for the week ending September 19. 生产强劲,特别是佩尔米安盆地和北达科他州的巴克肯沙勒的产量强劲,天然气对石油比率创下了3.03的纪录,压低了价格,同时对墨西哥的需求疲软和出口下降增加了熊熊的压力。 Strong production, especially from the Permian Basin and North Dakota’s Bakken Shale—where the gas-to-oil ratio hit a record 3.03—pressed prices down, while sluggish demand and declining exports to Mexico added bearish pressure. 尽管如此,远期价格反映出,由于AI的数据中心能源使用量增加、LNG出口增加以及基础设施扩大,2025年4季度的ELA预测为3.70美元,2026年4.30美元。 Despite this, forward prices reflect EIA projections of $3.70 in Q4 2025 and $4.30 in 2026, driven by rising data center energy use from AI, growing LNG exports, and infrastructure expansion.