Market Watch

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The four-session plunge by Henry Hub gas futures continued Wednesday with the contract sliding 28.3¢ to $5.462 per million Btu. The contract has lost $1.279 since the dive began last Friday. The fall is even more impressive coming as a shot of early cold envelops the eastern US. But a brief cold snap can't bull up longer term fundamentals, analysts at Gelber & Associates said. "Once the calendar presses into December, and if the temperatures at that time remain warmish, it’s not out of the question that Nymex gas futures could fall well below $5.00/MMBtu." The 12-month strip fell 22.1¢ to $5.18; the 2023 calendar strip was off 19.7¢ to $5.131 (Futures contracts).

Gas Demand, Gas Inventories, Gas Supply, Gas Prices, Gas Pipelines
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