Natural gas (short term delivery) started off the week with a hike of nearly 12%. Despite this hike, during the rest of the week the price natural gas had a downward trend. The NG storage rose again at a slower rate than last year.
During last week the Henry Hub future (short term delivery) increased by 4.41%.
Here is a short review of the recent shifts in natural gas market for the week ending on November 2nd 2012:
Natural Gas Market– October/November Review
The Nymex Henry Hub Future (short term delivery) hiked during last week by 4.41% and by Friday reached $3.55/mmbtu; its average daily change was 1.02%, its weekly average price was 6.68% above 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 presents the shifts in Nat Gas future (Nymex Henry Hub) in $/mmbtu between October 29- November 2.
As seen in the first chart, the NG prices (Henry Hub future and spot) declined during the week.
In the second chart are the daily percent changes of the Henry Hub spot and Nymex Henry Hub future (short term delivery). Its shows the sharp hike in the prices of natural gas on the first day of the week.
NG Storage Update – EIA Report:
According to the recent EIA review on natural gas the underground storage (Billion Cubic Feet) rose by 65 Bcf to 3,908 billion cubic feet for all lower 48 states; the NGs storage was still 7.1% above the 5-year average, and was also 3.6% above the storage level during the parallel week in 2011.
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