Dated WTI crude oil and Henry Hub natural gas benchmark references. Check the observation date before comparing a benchmark with the period on a royalty statement.
Data as of September 18, 2026
Source: WTI crude & Henry Hub natural gas benchmarks via the commodities feed · observed Sep 18, 2026, 7:56 PM UTC
Observed on September 18, 2026: WTI crude oil: $99.83 per barrel; Henry Hub natural gas: $2.90 per MMBtu.
The dated WTI crude oil reference is $99.83 per barrel (WTI, the U.S. benchmark) — based on the latest NYMEX market data as of September 18, 2026.
The dated Henry Hub natural gas reference is $2.90 per MMBtu (Henry Hub, the U.S. benchmark) — based on the latest NYMEX market data as of September 18, 2026.
What do these prices mean for your royalty check? Run your own numbers in the free Royalty Calculator to explore the relationship between benchmark prices and royalty statements.
As of September 18, 2026: WTI crude oil $99.83/bbl · Henry Hub natural gas $2.90/MMBtu — NYMEX benchmark spot price. Source: commodities feed. Published by Buckhead Energy at buckheadenergy.com/oil-gas-prices.
West Texas Intermediate (WTI) crude is a light, sweet crude oil and the primary benchmark for North American oil pricing. WTI is what NYMEX futures contracts settle against; most Texas, Oklahoma, New Mexico, and other domestic oil sells at WTI minus a basin-specific differential.
Henry Hub (Erath, Louisiana) is the U.S. benchmark price for natural gas. Quoted in USD per MMBtu (Million British Thermal Units). Most U.S. gas production is priced at Henry Hub plus or minus a regional basis differential — Permian Waha and Marcellus typically trade at significant discounts to Henry Hub.
The benchmark references at the top of this page carry their own observation dates. They provide context for the corresponding period on a royalty statement. The price your operator pays you, however, is the realized price — what they actually sold YOUR share of the production for, minus a few things along the way:
Basis differential: Oil and gas don't sell at the NYMEX hub price — they sell at the local market price, which is typically a few dollars below WTI for crude (and sometimes negative for gas in pipeline-constrained basins like the Permian Waha or Marcellus).
Marketing & transportation deductions: Pipeline tariffs, gathering, and processing fees are typically deducted from your share before the operator cuts the check.
Volume × price × decimal: Your check stub line item is roughly: barrels (or Mcf) × realized price × your decimal interest.
Take any recent royalty check stub and back into your realized price:
Step 1: Find the gross revenue and gross volume for one product (oil OR gas) on the stub.
Step 2: Divide: revenue ÷ volume = your implied realized price.
Step 3: Compare to the spot price above for the same period (or use the EIA WTI history / EIA Henry Hub history).
A spot benchmark describes a price observation for a particular period. A forward strip shows futures prices across different delivery months. Neither is a mineral-rights offer or a guaranteed future price.
A written offer on a specific interest is a separate step: request one from Buckhead.
Benchmarks give context; a written offer is specific to your wells, operator and decimal interest.
Get Your Free Written OfferTexas Oil & Gas Industry Snapshot — operators, counties, formations, drilling activity
Oklahoma Oil & Gas Industry Snapshot
Royalty Calculator — your decimal interest and monthly income at these benchmarks
What's a Fair Price for Mineral Rights?
The Mineral Rights Selling Process
U.S. Energy Information Administration (EIA) — official price history
CME Group Energy Markets — NYMEX forward strip
Prices shown are spot benchmarks for reference and educational purposes only — they are not a quote, an offer, or a guarantee of the price your minerals will realize. Always consult your own check stubs and a qualified professional for specific financial decisions. Buckhead Energy does not provide tax, legal, or investment advice.
Oil benchmark: WTI Crude
Oil unit: USD per barrel (bbl)
Gas benchmark: Henry Hub
Gas unit: USD per MMBtu
1 MMBtu ≈ 1 Mcf of dry natural gas
Data as of: September 18, 2026
The price of crude oil today is about $99.83 per barrel — the WTI (West Texas Intermediate) NYMEX benchmark, based on the latest market data as of September 18, 2026. This is a dated benchmark reference; your royalty checks pay a realized price below this benchmark after basis and deductions.
The price of natural gas today is about $2.90 per MMBtu — the Henry Hub NYMEX benchmark, based on the latest market data as of September 18, 2026. Regional gas trades at a basis differential to Henry Hub, so the price realized on your royalty checks is usually below this benchmark.
As of September 18, 2026, WTI crude oil is trading at about $99.83 per barrel (NYMEX benchmark spot price). West Texas Intermediate is the primary North American oil benchmark; most domestic oil sells at WTI minus a basin-specific differential.
As of September 18, 2026, Henry Hub natural gas is about $2.90 per MMBtu (NYMEX benchmark spot price). Henry Hub is the U.S. natural gas benchmark; regional prices trade at a basis differential to it — basins like the Permian Waha and Marcellus often trade at steep discounts.
The prices on this page are spot benchmark prices. Your royalty is paid on the realized price — what the operator actually sold the production for, minus the basis differential to the benchmark, marketing and transportation deductions, and severance/ad valorem taxes. The realized price is normally below the headline NYMEX number.
Check the displayed observation date. Prices can reflect an earlier trading period; when an observation date is unavailable, numerical quotes are not shown.
The spot price is today’s snapshot for a single barrel or MMBtu at the benchmark hub. The forward strip shows futures prices across different delivery months. Neither a spot benchmark nor a futures price is a mineral-rights offer or a guaranteed future price.
On a royalty stub, divide gross revenue by gross volume for one product to get your implied realized price, then compare it to the benchmark spot price for the same period. A benchmark comparison alone does not establish whether a payment is correct; the product, location, reporting period and lease terms also matter.
| Topic | What It Means for Mineral Owners |
|---|---|
| Dated commodity references | Check the observation date shown with each benchmark reference; a page refresh does not establish a new price observation. |
| Realized vs. spot price | Mineral owners are paid the realized price (operator's actual sale price minus deductions and basis differential), NOT the headline NYMEX number. |
| Basis differentials matter | Product, location, reporting period and lease terms matter when comparing a statement with a benchmark. |
| Reality-check your stub | Compare the same product, units and reporting period. A benchmark comparison alone does not establish whether a payment is correct. |
| Forward strip vs. spot | Spot benchmarks describe observations; a forward strip shows futures prices for different delivery months. Neither is a mineral-rights offer. |
| Want a written offer? | Request a written offer on your specific interest. |