Natural gas (short term delivery) and spot price changed direction and hiked during most of the week. Following these changes the difference between future and spot was mostly in Contango during the week. The NG storage rose again at a slower pace than in recent years.
During last week the Henry Hub spot increased by 7.69%, and the future (October delivery) also rose by 9.7%.
Here is a short review for the recent developments in natural gas market for the week ending on September 14th 2012:
Natural Gas Market– September Review
The Nymex Henry Hub Future (short term delivery) rose during last week by 9.7% and by Friday reached $2.94 /mmbtu; its average daily change was 1.93%, its weekly average price was 6.83% above the previous average price.
The Henry Hub spot also increased during last week by 7.69%, and its average price was 2.86% above the previous average price.
The difference between the NG future and spot prices – future minus spot – started the week in Contango but by the end of the week it was nullified.
Natural Gas Charts
The following charts presents Nat Gas (Henry Hub) and future (Nymex Henry Hub) in $/mmbtu between September 10th and September 14th.
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) rose by 27 Bcf to 3,429 billion cubic feet for all lower 48 states; the NGs storage was 9% above the 5-year average, and was also 11.1% above the storage level during the same week in 2011.
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