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Henry Hub Finds a Bid

September 10, 2019

Since trading below $2.00/mmbtu briefly in mid August, the leading natural gas benchmark has found a bid. NYMEX Henry Hub spot prices have rebounded to reach more than $2.60/mmbtu. Is the rally the result of shorts covering their positions? Or a result of fundamentals? This injection season has added 598 bcf more into inventory than last year as of the August 30 EIA report. And cooling demand has not been strong across the major markets.

NYMEX Henry Hub Spot Price
(source: DTN. weekly $/mmbtu)

Henry Hub