Natural gas future price (short term delivery) changed direction and tumbled down during most of last week. By the end of the week the Henry Hub future (short term delivery) fell by 5.81%. Based on the latest EIA natural gas storage update, the natural gas storage rose slightly lower than the average five years did during the parallel week: The NG storage injection was 30 Bcf. In comparison, during the same week last year the injection was 36 Bcf; this injection in the storage.
Here is a short analysis of the latest changes in natural gas market for the week ending on April 26th 2013:
Natural Gas Market – April Report
The Nymex Henry Hub Future (short term delivery) fell during last week by 5.81% and by Friday reached $4.15/mmbtu; its average daily change was -1.18%; its weekly average price was 1.25% below last week’s average price.
The gap between the NG future and spot prices – future minus spot – shifted between backwardation and Contango during the previous week.
Natural Gas Charts
The following charts show the changes in Nat Gas future (Nymex Henry Hub) in $/mmbtu between April 22-26.
In the second chart are the daily percent shifts of the Henry Hub spot and Nymex Henry Hub future (short term delivery). The chart shows the price developments of natural gas during last week.
Natural Gas Storage
The underground natural gas storage (Billion Cubic Feet) increased again during last week by 1.76% or by 30 Bcf; the storage reached 1,734 billion cubic feet for all lower 48 states; the current storage is 5.1% below the 5-year average and 31.8% below the storage during the same week in 2012. During the same week in April 2012 the natural gas injection was 36 Bcf, and the five year average injection from storage for the same week of April was 44 Bcf. This week’s injection was mostly driven from Eastern consumption region with a 21 Bcf injection.
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