Mild weather reducing US Henry Hub spot prices

11/06/2010 09:09 Natural Gas

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Gas prices are falling down on U.S. gas market, after having registered gains in 5 consecutive sessions. The drop of the spot prices is influenced by gas futures, after expectations of warm weather in US gas consuming regions.

Gas prices for Thursday lost 14 cents, on average to $ 4.75 per million BTU at Henry Hub supply point, in Louisiana. Hub cash gas gained continuously in the last period of time, recovering from the 4-month low of $3.72 in April. At the moment, hub gas is above the June index price of $4.16 per Btu, and 28% higher than the lowest level in early April this year, but well below the $12 dollars level, registered in the same period in 2008. New shale gas reserves in USA are expected to keep the prices from rising too fast. However, economic recovery is expected to boost the demand for natural gas, the share of natural gas in total energy consumption being around 30%.

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