Henry Hub continues its rise
The US benchmark for the price of natural gas continued its recovery December 8 on the back of the broader market swing that greeted word that three shots of the Pfizer/BioNTech vaccine are effective against Omicron.
The January gas delivery contract at the US Henry Hub was up 3.7% as of 12:25 GMT to trade at $3.85/mn Btu. The contract is recovering lost ground after falling nearly 24% during the week ending December 3.
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Natural gas, crude oil and broader markets turned lower last week amid worries over Omicron, the new, highly contagious strain of the novel coronavirus that causes COVID-19.
In a December 8 statement, Pfizer and BioNTech said that three doses of their COVID-19 can “neutralize” the new variant.
Meanwhile, there is a mixed bag of weather in store for the continental US. The National Weather Service forecasts record-breaking high temperatures across much of the southcentral part of the country. But as much as 30cm of snow are expected across southeast Wyoming and western Nebraska as a developing winter storm descends on the region.