US industrial electricity price
Average price large industrial customers pay (EIA); a benchmark for what big power buyers pay today.
9.64 ¢/kWh
▼ 1.3% 1M▲ 7.3% 1Y
EIA · monthly · latest 2026-08-01
Markets
Loading…
Loading…
Oil, gas, metals and power prices with the policy and supply events that moved them. Daily series update every morning; IMF and BLS series monthly.
Prices updated Nov 9, 2026, 6:14 AM ET
Average price large industrial customers pay (EIA); a benchmark for what big power buyers pay today.
9.64 ¢/kWh
▼ 1.3% 1M▲ 7.3% 1Y
EIA · monthly · latest 2026-08-01
Average price commercial customers pay (EIA).
14.47 ¢/kWh
▼ 0.4% 1M▲ 4.3% 1Y
EIA · monthly · latest 2026-08-01
Average US city price per kWh (BLS).
0.2 $/kWh
▲ 0.0% 1M▲ 4.3% 1Y
BLS, via FRED · monthly · latest 2026-09-01
Global oil benchmark (Europe Brent spot).
107.03 $/barrel
▼ 21.0% 1M▲ 62.7% 1Y
FRED · daily · latest 2026-11-03
US oil benchmark (Cushing, OK spot).
99.64 $/barrel
▲ 1.8% 1M▲ 61.3% 1Y
FRED · daily · latest 2026-11-03
US natural gas benchmark (Louisiana spot).
2.63 $/MMBtu
▼ 9.3% 1M▼ 22.0% 1Y
FRED · daily · latest 2026-11-03
IMF European gas price; what US LNG competes for.
25.49 $/MMBtu
▲ 21.9% 1M▲ 131.7% 1Y
IMF Primary Commodity Prices, via FRED · monthly · latest 2026-09-01
IMF Japan LNG import price; Asia's benchmark.
26.64 $/MMBtu
▲ 20.9% 1M▲ 136.2% 1Y
IMF Primary Commodity Prices, via FRED · monthly · latest 2026-09-01
Crude held in the federal emergency reserve.
282,184 thousand barrels
▼ 0.6% 1M▼ 31.0% 1Y
EIA · weekly · latest 2026-10-30
Monthly US liquefied natural gas exports.
514,617 million cubic feet
▼ 0.8% 1M▲ 14.1% 1Y
EIA · monthly · latest 2026-08-01
IMF global copper price (LME grade A).
14,473.06 $/metric ton
▲ 1.0% 1M▲ 44.8% 1Y
IMF Primary Commodity Prices, via FRED · monthly · latest 2026-09-01
IMF global nickel price.
16,323.82 $/metric ton
▼ 2.5% 1M▲ 8.1% 1Y
IMF Primary Commodity Prices, via FRED · monthly · latest 2026-09-01
IMF uranium price.
72.47 $/lb U3O8
▲ 1.9% 1M▲ 15.3% 1Y
IMF Primary Commodity Prices, via FRED · monthly · latest 2026-09-01
What grid operators pay plants to be available when needed. High prices raise the value of firm, dispatchable power such as geothermal, nuclear and long-duration storage.
PJM
2025/26: BGE and Dominion zones higher ($466.35 and $444.26) · 2026/27: Cleared at the price cap · 2027/28: Cleared at the price cap · 2028/29: At the cap; 6,831 MW short of the reliability requirement
PJM: RTO-wide base residual auction price (UCAP). MISO: summer season of the planning resource auction. Click a price for its source.
Cause-and-effect stories that connect a decision or disruption to the prices, technologies, companies and projects it reaches. Each step is colored by exposure: red at risk, blue worth watching, green secure. The same chains appear as "Exposed to" on project and company pages.
How a Gulf shipping disruption reaches US gas and electricity prices, and the link that decides how much of it does.
Strait of Hormuz disrupted (Feb 2026)
About a fifth of global oil trade passes through the strait.
Oil benchmarks jumpchart: Brent crude
Brent posted its largest monthly gain since records began in 1988 (March 2026).
Qatar LNG goes offlinechart: Asian LNG (Japan)
Qatar halted production on Mar 2; Ras Laffan was struck on Mar 18.
Europe and Asia compete for cargoeschart: European natural gas
Importers bid for replacement LNG; prices spike in both regions.
US LNG exportschart: US LNG exports
The question to watch: can US terminals ship more, or are they already full?
US natural gaschart: Henry Hub natural gas
If exports can't grow, US gas stays relatively insulated; if they can, domestic prices follow.
US power priceschart: US retail electricity
Gas sets the marginal power price in much of the US, so gas moves reach bills with a lag.
Why a trade law about fuel imports is a schedule risk for new reactor designs.
US bans Russian uranium (May 2024)chart: Uranium
Waivers allowed through 2027 while US enrichment capacity is built.
Russia restricts exports to the US (Nov 2024)chart: Uranium
Retaliation removes the waiver cushion for some buyers.
Uranium pricechart: Uranium
Tighter Western supply shows up in contract and spot prices.
Most advanced designs need HALEU (5–20% enriched), with no commercial US supply at scale yet.
Fuel availability becomes a gating item for first units.
Kemmerer Unit 1 (Natrium)Hermes 2Long Mott Generating StationAurora-INLCascade Advanced Energy Facility
Standard-fuel SMRs are less exposed
Light-water SMRs (BWRX-300, SMR-300) use regular low-enriched fuel, which Western enrichers supply.
A rare earth most people never hear about sits under two technologies in your thesis set.
China licenses yttrium exports (Apr 2025)
The US is 100% import reliant for yttrium; China supplies about 70% of imports.
High-temperature superconducting magnets use a rare-earth barium copper oxide layer.
Magnet-based fusion developers
The largest fusion company is built on HTS magnets.
Solid-oxide fuel cells and electrolyzers
Yttria-stabilized zirconia is the electrolyte in solid-oxide cells.
How a tariff's fine print moved a price by double digits in a day.
Tariff proclamation (Jul 30, 2025)chart: Copper
50% on semi-finished copper; refined cathode exempted.
COMEX premium collapseschart: Copper
US prices had run ahead of LME on tariff expectations, then fell back.
Magnet coils and stabilizers; also every grid and transmission project.
A template for how US policy de-risks a critical-mineral supply chain, and what to look for in funding notices.
DoD–MP Materials partnership (Jul 2025)
$110/kg floor for NdPr oxide, against a 2025 average near $69/kg.
Producers can finance new capacity without fearing a Chinese price cut.
Watch funding notices for the same pattern
Offtake guarantees, price floors and equity stakes signal where government is underwriting supply.
Why big tech buyers are now the main source of offtake for first-of-a-kind clean firm power.
Hyperscalers sign 24/7 clean power deals
Google, Meta, Microsoft and Amazon have signed PPAs or funded development for geothermal, fusion and advanced nuclear.
Next-gen geothermal gets bankable offtake
Long-term contracts let developers raise project debt.
Corsac StationMeta geothermal Phase I (Sage)New Mexico geothermal for MetaNevada portfolio for Google
Contracts exist before the technology is proven, so delivery risk stays with the developer.
Advanced nuclear gets anchor customers
Buyers fund development and commit to output from first units.
Cascade Advanced Energy FacilityOhio Clean Energy CampusLong Mott Generating Station
Risk: data-center demand forecasts fall
Later phases and options depend on load growth continuing; watch hyperscaler capex guidance.
How a change in federal lending priorities reaches specific projects.
LPO commitments placed under review (Jan 2025)
The new administration paused and re-examined conditional commitments made in late 2024.
Willow Rock's $1.76B conditional loan in limbo
The project is permitted but its federal loan guarantee is still under review.
Loans that closed before the review, like Eos's, kept funding.
Office relaunched as Energy Dominance Financing
Lending shifts toward nuclear and utility expansions (AP1000 offers, Constellation uprates).
| Date | Event | Category | Charts |
|---|---|---|---|
| 2026-10-08 | Record tanker attacks in Hormuz Oil and diesel prices jump on a record number of attacks on tankers. + THESIS | Geopolitics | Brent crude, WTI crude |
| 2026-09-05 | US hits Iranian tankers; IRGC strikes vessels Escalation at sea; around 10 commodity ships a day crossing Hormuz (Kpler). + THESIS | Geopolitics | Brent crude, WTI crude |
| 2026-07-08 | Ceasefire declared over; US strikes resume Followed Iranian strikes on ships in the strait; US revoked Iran's oil-sale licence on Jul 7. + THESIS | Geopolitics | Brent crude, WTI crude |
| 2026-06-17 | US–Iran MOU reopens Strait of Hormuz 14-point memorandum ended the US naval blockade, reopened the strait and offered an oil-sanctions waiver. + THESIS | Geopolitics | Brent crude, WTI crude |
| 2026-04-07 | US–Iran two-week ceasefire announced Later extended indefinitely; Hormuz traffic stayed well below pre-war levels. + THESIS | Geopolitics | Brent crude, WTI crude |
| 2026-03-18 | Iran strikes Ras Laffan LNG complex Qatar's LNG capacity cut by about 17%; Asian LNG spot prices up more than 140%. + THESIS | Supply | Asian LNG (Japan), European natural gas |
| 2026-03-12 | US announces 172 million barrel SPR release US share of an IEA-coordinated 400 million barrel emergency release. + THESIS | US policy | US Strategic Petroleum Reserve, Brent crude, WTI crude |
| 2026-03-02 | QatarEnergy halts gas production after drone attacks Qatar stopped LNG production and declared force majeure the next day; European gas prices nearly doubled. + THESIS | Supply | European natural gas, Asian LNG (Japan), US LNG exports |
| 2026-02-28 | US–Israel strikes on Iran begin the 2026 Iran war Start of the war; Strait of Hormuz traffic, about 20% of global oil trade, is disrupted from late February. + THESIS | Geopolitics | Brent crude, WTI crude, European natural gas, Asian LNG (Japan) |
| 2025-07-30 | US copper tariff excludes refined cathode; COMEX plunges A 50% tariff applied to semi-finished copper products but exempted refined copper, collapsing the COMEX premium over LME. + THESIS | US policy | Copper |
| 2025-07-10 | DoD–MP Materials deal sets NdPr price floor of $110/kg Department of Defense became MP Materials' largest shareholder and guaranteed a $110/kg floor for NdPr oxide, versus a 2025 average near $69/kg (USGS). + THESIS | US policy | |
| 2025-04-04 | China export controls on seven rare earths, incl. yttrium Licences now required for samarium, gadolinium, terbium, dysprosium, lutetium, scandium and yttrium. Yttrium feeds REBCO fusion magnets and solid-oxide cells. + THESIS | Geopolitics | |
| 2025-01-20 | LNG export pause lifted 'Unleashing American Energy' executive order directed DOE to resume LNG export approvals. + THESIS | US policy | US LNG exports, Henry Hub natural gas |
| 2024-11-15 | Russia restricts enriched uranium exports to the US Russia's government temporarily restricted enriched uranium exports to the US in response to the ban. + THESIS | Geopolitics | Uranium |
| 2024-05-13 | US bans Russian uranium imports Prohibiting Russian Uranium Imports Act signed; DOE waivers allowed through 2027 while domestic enrichment is built. + THESIS | US policy | Uranium |
| 2024-01-26 | US pauses new LNG export approvals The Biden administration paused DOE approvals for new LNG exports to non-free-trade countries pending a review. + THESIS | US policy | US LNG exports, European natural gas |
| 2022-03-08 | LME suspends nickel trading after short squeeze Nickel prices more than doubled in a day as a short squeeze hit; the London Metal Exchange halted trading and cancelled trades. + THESIS | Market | Nickel |
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis (FRED terms). Copper, nickel, uranium and international gas prices: International Monetary Fund, Primary Commodity Prices. Power, petroleum and LNG series: U.S. Energy Information Administration.