Once again, the NYMEX futures price, based on the physical Henry Hub price for natural gas, appears to be in a freefall. Yesterday, the NYMEX’s front month contract price (for April) lost 18 cents per million British thermal units (MMBtu), or 8%, dropping to $2.17/MMBtu. It sure feels like the bad old days when we couldn’t keep the price above $3/MMBtu. This is the second-lowest price this year so far. Yesterday’s price was 77% lower than the 52-week high of $9.68 hit Monday, Aug. 22, 2022. Why so low? Warm weather and high production.
Once again, the NYMEX futures price, based on the physical Henry Hub price for natural gas, appears to be in a freefall. Yesterday, the NYMEX’s front month contract price (for April) lost 18 cents per million British thermal units (MMBtu), or 8%, dropping to $2.17/MMBtu. It sure feels like the bad old days when we couldn’t keep the price above $3/MMBtu. This is the second-lowest price this year so far. Yesterday’s price was 77% lower than the 52-week high of $9.68 hit Monday, Aug. 22, 2022. Why so low? Warm weather and high production.