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Gas Hits 14-Year High, then Falls

August 01, 2022

Ten dollar bill

The Henry Hub benchmark topped $9.75/mmbtu last week. Prices near $10 are rare territory. The last time we saw consistent $10 was April – July of 2008 when the four-month stretch averaged $11.30/mmbtu. June ‘08 closed at $12.69/mmbtu. This was outdone by September thru December of ‘05 which averaged $12.13/mmbtu with October going off the board at $13.42/mmbtu. The market has since retraced, falling back to near $8.00/mmbtu on Friday.