We recently received a press release from IHS Markit, a major analytics company that tracks data in the oil and gas industry. They have a new report that says (sit down please, we’re talking to you MDN reader)…the average price for natural gas over the course of 2020 at the Henry Hub (the NYMEX traded price) will average less than $2 per thousand cubic feet (Mcf). In other words, get ready, the bottom is about to fall out of the market for the price of gas once again. And it’s going to be far worse than a few years go. The last time the price was lower than $2/Mcf on average was in 1995–nearly 25 years ago!
We recently received a press release from IHS Markit, a major analytics company that tracks data in the oil and gas industry. They have a new report that says (sit down please, we’re talking to you MDN reader)…the average price for natural gas over the course of 2020 at the Henry Hub (the NYMEX traded price) will average less than $2 per thousand cubic feet (Mcf). In other words, get ready, the bottom is about to fall out of the market for the price of gas once again. And it’s going to be far worse than a few years go. The last time the price was lower than $2/Mcf on average was in 1995–nearly 25 years ago!