Henry Hub down 32 cents to $2.19

Natural gas spot price movements were mixed this report week (Wednesday, August 26 to Wednesday, September 2). The Henry Hub spot price fell from $2.51 per million British thermal units (MMBtu) last Wednesday to $2.19/MMBtu yesterday.

At the New York Mercantile Exchange (Nymex), the September 2020 contract expired Thursday at $2.579/MMBtu, up 12¢/MMBtu from last Wednesday. The October 2020 contract price decreased to $2.486/MMBtu, down 9¢/MMBtu from last Wednesday to yesterday. The price of the 12-month strip averaging October 2020 through September 2021 futures contracts climbed 10¢/MMBtu to $2.973/MMBtu.

The net injections to working gas totaled 35 billion cubic feet (Bcf) for the week ending August 28. Working natural gas stocks totaled 3,455 Bcf, which is 18% more than the year-ago level and 13% more than the five-year (2015–19) average for this week.

The natural gas plant liquids composite price at Mont Belvieu, Texas, fell by 8¢/MMBtu, averaging $5.11/MMBtu for the week ending September 2. The price of ethane fell by 9%. The prices of propane, butane, and isobutane rose by 1%, 3%, and 4%, respectively. The price of natural gasoline remained flat week over week.

According to Baker Hughes, for the week ending Tuesday, August 25, the natural gas rig count increased by 3 to 72. The number of oil-directed rigs fell by 3 to 180. The total rig count stayed at 254.

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Rob Cook, RobCookKC@gmail.com