After earlier rebound, production slides below 92 Bcf/d US gas demand trending near top of five-year range Inventory surplus forecast to evaporate by late January NYMEX prompt-month gas futures prices may be edging back toward the $5 level by later this month as flagging domestic gas production and colder weather over the days ahead promise to tighten US supply.
Over the past week, both gas futures and cash prices at the benchmark Henry Hub have zoomed past $4, even trading briefly into the $4.70s to $4.80s/MMBtu, data from S&P Global Platts shows. On Jan. 18, the prompt-month contract was up as much as 13 cents from its prior settlement to trade around $4.30 to $4.40/MMBtu. In the cash market, Henry Hub gas was also up on the day, rising more than 10 cents to about $4.48/MMBtu, […]