EIA NATURAL GAS WEEKLY UP0DATE
Overview (For the Week Ending Wednesday, February 17, 2010)
- Natural gas prices continued their decline across much of the country for the week ended February 17. Even prices in the Northeast,
which registered large increases during the previous week, fell as of
yesterday. On the week, natural gas spot prices registered net
decreases at almost all locations in the lower 48 States. - The significant price increases for the week ended February 10 in the Northeast occurred in response to the two major snow storms that
slammed the Mid-Atlantic and parts of the Northeast. However, with
average temperatures this report week resembling historical normals,
prices in the Northeast slid to pre-snow storm levels. - The Henry Hub spot price ended the report week yesterday 1 cent lower, at $5.47 per million Btu (MMBtu). This slight decrease followed a 3-cent slide the week prior.
- At the New York Mercantile Exchange (NYMEX), the futures contract for March delivery at the Henry Hub ended trading yesterday at $5.386
per MMBtu, rising by 9 cents or about 2 percent during the report week.
The increase in the price of futures contract this week followed a
2-percent decrease the week prior. - Natural gas in storage decreased to 2,025 billion cubic feet (Bcf) as of February 12, leaving inventories 2.7 percent above the 5-year average (2005-2009). The implied net withdrawal was 190 Bcf.
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Replies to This Discussion
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Permalink Reply by Skip Peel - Mineral Consultant on
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The eia Weekly Updated is issued each Wednesday. The report is far too comprehensive to post in its entirety. If you would care to read the entire report, use the link below. It's a good candidate for a book mark, IMHO.
http://tonto.eia.doe.gov/oog/info/ngw/ngupdate.asp
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