Natural Gas Retreats After Rally
May 11, 2020
NYMEX Henry Hub spot prices traded close to $2.20/mmbtu last week and then retreated to near $1.80/mmbtu. Futures prices followed suite. As of last week’s EIA natural gas storage report, there is 796 bcf more in the ground versus last year at this time while inventory is 1,924 above the five-year average.