NYMEX Front Month price chart for last 5 years
Here we go, to the bad old days, once again. Yesterday, the "front month" or "prompt month" for the NYMEX Henry Hub futures contract closed below $2/MMBtu --- closing at $1.97. It is the lowest close for the NYMEX front month contract since September 2020, when it closed at $1.83. Yeah, the bad old days of lower for longer. The reason for the current crash in price is, as we told you yesterday, largely due to warm weather (see NatGas Price is Crashing and Burning – How Low Will It Go?). Trading experts say the next level to be tested to see if the price will head even lower will be $1.80/MMBtu. God help us if it closes that low.
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