Natural gas (short term delivery) and spot price continued their rallied and hiked throughout the week. Following these changes the difference between future and spot contracted but remained in Contango throughout the week. The NG storage rose again at a slightly slower rate than in previous years.
During last week the Henry Hub spot rose by 6.54%, and the future (November delivery) also increased by 2.41%.
Here is a short review for the recent changes in natural gas market for the week ending on October 5th 2012:
Natural Gas Market– October Review
The Nymex Henry Hub Future (short term delivery) rose during last week by 2.41% and by Friday reached $3.4 /mmbtu; its average daily change was 0.51%, its weekly average price was 10.46% above the previous average price.
The Henry Hub spot also rallied during last week by 6.54%, and its average price was 9.82% above the previous average price.
The difference between the NG future and spot prices – future minus spot – continued to be in a Contango all through the week.
Natural Gas Charts
The following charts present Nat Gas (Henry Hub) and future (Nymex Henry Hub) in $/mmbtu between October 1st and October 5th.
As seen in the first chart, the shifts of NG rates (Henry Hub future and spot) as natural gas future and spot rates rose during the first part of the week.
In the second chart are the daily percent changes of the Henry Hub spot and Nymex Henry Hub future (short term delivery).
NG Storage Update – EIA Report:
According to the recent EIA review on natural gas the underground storage (Billion Cubic Feet) increased by 77 Bcf to 3,653 billion cubic feet for all lower 48 states; the NGs storage was 8.3% above the 5-year average, and was also 8
% above the storage level during the same week in 2011.
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