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Here in the northeastern part of the country, we are supposed to be getting clobbered by two days of super-cold, Siberian air--beginning today. The "otherworldly" temps are forecast to be in the minus 45 degrees Fahrenheit region in some places. Wind chill temps even lower. The spot (physically delivered, next day) price for natural gas
We keep commenting on the futures price of natural gas, the NYMEX Henry Hub price, because it keeps heading lower. Yesterday the NYMEX price closed down another 22 cents to $2.47/MMBtu, the lowest settlement price since April 6, 2021 (22 months). Here's another somber statistic: The NYMEX price fell the most during a single month
As we reported yesterday, the price of natural gas continues to bump along in the mid-$2/MMBtu range (see NYMEX Futures Price Hits 21-Month Low, Settles at $2.68/MMBtu). Warm weather both here and in Europe, along with a slight increase in production (5% higher now than it was a year ago), have combined to deliver low
This is getting painful. Are we beginning to settle into "lower for longer" once again, with natural gas prices trading in the $2-$3 range? Gosh, we sure hope not. Yesterday was the first full day of the March 2023 NYMEX futures contract for natural gas as the "front month." The February contract "rolled off" (i.e.
It's brutal out there--with respect to the price of the NYMEX Henry Hub futures price. Yesterday the HH dropped below, and stayed below, $3/MMBtu. The price "settled" at $2.94, down 12 cents (4%) for the day. That is the lowest settlement price for the HH in 20 months--since May 2021. Not even the good news