Natural gas (short term delivery) and spot price continued their upward trend and hiked throughout last week. Following these shifts the difference between future and spot also expanded and was in Contango throughout the week. The NG storage rose again at a slightly slower pace than in previous years.
During last week the Henry Hub spot hiked by 9.29%, and the future (October delivery) also rose by 14.88%.
Here is a short review for the recent changes in natural gas market for the week ending on September 28th 2012:
Natural Gas Market– September Review
The Nymex Henry Hub Future (short term delivery) hiked during last week by 14.88% and by Friday reached $3.32 /mmbtu; its average daily change was 2.89%, its weekly average price was 10.76% above the previous average price.
The Henry Hub spot also rallied during last week by 9.29%, and its average price was 5.7% above the previous average price.
The difference between the NG future and spot prices – future minus spot – was in a high Contango all through the week.
Natural Gas Charts
The following charts present Nat Gas (Henry Hub) and future (Nymex Henry Hub) in $/mmbtu between September 24th and September 28th.
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 latest EIA review on natural gas the underground storage (Billion Cubic Feet) increased by 80 Bcf to 3,576 billion cubic feet for all lower 48 states; the NGs storage was 8.6% above the 5-year average, and was also 9% above the storage level during the same week in 2011.
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