{"id":63401,"date":"2022-08-30T06:57:41","date_gmt":"2022-08-30T11:57:41","guid":{"rendered":"https:\/\/olduvai.ca\/?p=63401"},"modified":"2022-08-30T06:57:41","modified_gmt":"2022-08-30T11:57:41","slug":"usa-henry-hub-gas-prices-climb-to-record-high","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=63401","title":{"rendered":"USA Henry Hub Gas Prices Climb to Record High"},"content":{"rendered":"
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USA Henry Hub Gas Prices Climb to Record High<\/a><\/h3>\n<\/div>\n
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The commodity almost hit the $10 per MMbtu mark for the first time.<\/div>\n<\/div>\n
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U.S. Henry Hub prices have climbed to a record high, Rystad Energy analyst Lu Ming Pang highlighted in a market note sent to Rigzone on Wednesday.<\/p>\n

The commodity almost hit the $10 per MMbtu mark for the first time, Pang outlined, adding that Henry Hub has typically averaged about $2 to $4 per MMbtu in previous summers.<\/p>\n

\u201cProlonged abnormal weather and a high demand for LNG internationally has applied upwards pressure on prices,\u201d Pang said in the note.<\/p>\n

\u201cMild weather in the past week has reduced gas-for-power demand for cooling, resulting in 5.4 billion cubic feet per day (Bcfd) taken off gas demand. Given that domestic natural gas production has decreased by only 1.1 Bcfd, it appears that Henry Hub prices are responding to the reverberations in Europe, as compared to domestic fundamentals,\u201d Pang added.<\/p>\n

In the note, Pang highlighted that U.S. storage levels were at 2.519 trillion cubic feet full as of August 17, which he said is 367 billion cubic feet (Bcf) below the five-year average, and 296 Bcf below last year\u2019s levels for the same period, \u201cadding further pressure on refilling U.S. storages, which may keep Henry Hub prices high\u201d.<\/p>\n

At the time of writing, the Henry Hub price was trading at $9.39 per MMbtu. Henry Hub was trading under $4 per MMbtu at the start of the year.<\/p>\n

In a separate market note sent to Rigzone last week, Pang said the heatwave across the U.S. in July had led to record Henry Hub prices of beyond $9.46 per MMBtu.<\/p>\n

According to scientists from the U.S. National Oceanic and Atmospheric Association\u2019s National Centers for Environmental Information, July 2022 will go down in the history books as the third-hottest July on record for the United States.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

USA Henry Hub Gas Prices Climb to Record High \u00a0 The commodity almost hit the $10 per MMbtu mark for the first time. U.S. Henry Hub prices have climbed to a record high, Rystad Energy analyst Lu Ming Pang highlighted in a market note sent to Rigzone on Wednesday. The commodity almost hit the $10 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3,4],"tags":[33128,33127,32866,33126],"class_list":["post-63401","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","category-environment","tag-andreas-exarheas","tag-gas-price-inflation","tag-rigzone","tag-us-henry-hub"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63401","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=63401"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63401\/revisions"}],"predecessor-version":[{"id":63402,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63401\/revisions\/63402"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=63401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=63401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=63401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}