NYMEX Gas Price Falls 38 Cents to $4.91, But Remains High

We are checking in as we regularly do on the price of natural gas---both the futures price and the spot price in the Marcellus/Utica. Yesterday, the NYMEX futures price for natural gas got clobbered, falling 37.7 cents (-7.13%) to $4.9120 per million British thermal units (MMBtus). We're still delighted that the price is so high! Don't be bummed. But why did it fall? In a word, a new weather forecast showed U.S. temperatures warming mid-month, potentially curbing natgas heating demand. It can't stay cold forever. (We woke up to 0 on the thermometer here in the Southern Tier of New York. We're ready for warmer weather!) What about the spot (physical) price at various trading hubs in the M-U region? They've gone down a bit since last week, but we're still thrilled where they are, too.

---

To view this content, log into your member account. (Not a member? Join Today!)