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.
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.