Natural gas (short term delivery) and spot price started off the week falling but they changed direction and more than regained their loss from the beginning of 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 1.48%, and the future (November delivery) also increased by 0.28%.
Here is a short breakdown of the recent developments in natural gas market for the week ending on October 19th 2012:
Natural Gas Market– October Review
The Nymex Henry Hub Future (short term delivery) edged up during last week by 0.28% and by Friday reached $3.62/mmbtu; its average daily change was 0.08%, its weekly average price was 0.23% above the previous average price.
The Henry Hub spot also increased during last week by 1.48%, and its average price was 2.09% above the previous average price.
The difference between the NG future and spot prices – future minus spot – remained in a Contango throughout the week.
Natural Gas Charts
The following charts presents the changes in Nat Gas (Henry Hub) and future (Nymex Henry Hub) in $/mmbtu between October 15th and October 19th.
As seen in the first chart, the NG prices (Henry Hub future and spot) rose again mainly during the second part of the week.
In the second chart are the daily percent shifts 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) rose by 51 Bcf to 3,776 billion cubic feet for all lower 48 states; the NGs storage was 7.1% above the 5-year average, and was also 5% above the storage level during the same week in 2011.
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