Natural gas (short term delivery) and spot price declined during most of last week. Following these shifts the difference between future and spot contracted but remained in Contango throughout most of the week. The NG storage increased again at a slower pace than last year.
During last week the Henry Hub spot fell by 2.62%, and the future (November delivery) also decreased by 6.08%.
Here is a short review of the recent shifts in natural gas market for the week ending on October 26th 2012:
Natural Gas Market– October Review
The Nymex Henry Hub Future (short term delivery) declined during last week by 6.08% and by Friday reached $3.4/mmbtu; its average daily change was -1.22%, its weekly average price was 1.76% below the previous average price.
The Henry Hub spot also decreased during last week by 2.62%, and its average price was 2.17% below the previous average price.
The difference between the NG future and spot prices – future minus spot – was mostly in a Contango throughout the week.
Natural Gas Charts
The following charts shows the shifts in Nat Gas (Henry Hub) and future (Nymex Henry Hub) in $/mmbtu between October 22nd and October 26th.
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 67 Bcf to 3,843 billion cubic feet for all lower 48 states; the NGs storage was 7% above the 5-year average, and was also 4.1% above the storage level during the parallel week in 2011.
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