US natural gas prices inch lower
The December gas delivery contract at the US Henry Hub was charting its third consecutive loss early in the November 9 session, moving further away from recent highs above $6.00/mn Btu.
The contract was down 1.46% as of 12:40 GMT to trade at $5.35/mn Btu. It had moved above $6.20/mn Btu on October 27, but is down about 9.3% since then.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
US weather was milder to start the week, though colder air and winter precipitation is expected for northern states by the weekend, which could lead to a spike in demand for heating fuels such as natural gas.
The price, meanwhile, is all-but certain to move on federal estimates of natural gas inventories due out on November 10. Even with recent injections, the total amount in storage is 8% lower than year-ago levels and 3% below the five-year period ending in 2020 for this time of year.