• Natural Gas News

    Henry Hub recovers after rough week

Summary

The US benchmark for the price of natural gas lost just over 25% from November 29 through December 2.

by: Daniel Graeber

Posted in:

Complimentary, Natural Gas & LNG News, Americas, Market News, News By Country, United States

Henry Hub recovers after rough week

The US benchmark for the price of natural gas was in recovery mode on December 3 after falling significantly over the last four trading sessions.

The January gas delivery contract at the US Henry Hub was up 3.6% as of 12:25 GMT to trade at $4.20/mn Btu. The benchmark, however, lost 25.5% over the previous four trading sessions.

The latest natural gas weekly report from the US Energy Information Administration shows working natural gas stocks are 10% lower then year-ago levels and 2% lower than the five-year average through 2020 for this week.

Moderate weather for the continental United States, however, has kept Henry Hub below recent highs of around $6/mn Btu. The National Oceanic and Atmospheric Administration in its latest monthly forecast calls for above-normal temperatures across most of the Lower 48 states.

In the more immediate forecast, the National Weather Service said to expect record-breaking high temperatures for this time of year for parts of the country, though the Northern Plains and Upper Midwest could see heavy snow during the weekend.