Thursday, September 23, 2010

EIA: Weekly Natural Gas Update For Week Ending Sept. 22nd

Since Wednesday, September 15, natural gas spot prices fell at most markets across the lower 48 States, with declines of less than 10 cents per million Btu (MMBtu). However, selected markets in the Rocky Mountains and at the Florida citygate posted considerably larger declines, falling by as much as $0.51 per MMBtu. The Henry Hub natural gas spot price fell $0.04 per MMBtu since last Wednesday, averaging $4.02 per MMBtu in trading yesterday, September 22.

At the New York Mercantile Exchange (NYMEX), the futures contract for October delivery at the Henry Hub settled yesterday at $3.966 per MMBtu, falling by $0.029, or about 1 percent, since the previous Wednesday.

Natural gas in storage totaled 3,340 billion cubic feet (Bcf) as of September 17, about 6.2 percent above the 5 year (2005-2009) average. The implied net injection for the week was 73 Bcf.

The spot price for West Texas Intermediate (WTI) crude oil decreased by $2.92 per barrel since Wednesday, September 15, ending the report week at $72.98 per barrel, or $12.58 per MMBtu.

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