Henry Hub down 7 cents to $1.64

Natural gas spot prices fell at most locations this report week (Wednesday, July 15 to Wednesday, July 22). The Henry Hub spot price fell from $1.71 per million British thermal units (MMBtu) last Wednesday to $1.64/MMBtu yesterday.

At the New York Mercantile Exchange (Nymex), the price of the August 2020 contract decreased nearly 10¢, from $1.778/MMBtu last Wednesday to $1.681/MMBtu yesterday. The price of the 12-month strip averaging August 2020 through July 2021 futures contracts declined 5¢/MMBtu to $2.371/MMBtu.

The net injections to working gas totaled 37 billion cubic feet (Bcf) for the week ending July 17. Working natural gas stocks totaled 3,215 Bcf, which is 26% more than the year-ago level and 16% more than the five-year (2015–19) average for this week.

The natural gas plant liquids composite price at Mont Belvieu, Texas, fell by 12¢/MMBtu, averaging $4.67/MMBtu for the week ending July 22. The prices of natural gasoline and ethane fell by 13% and 6%, respectively. The prices of butane and propane rose by 4% and 2%, respectively. The price of isobutane remained flat week over week.

According to Baker Hughes, for the week ending Tuesday, July 14, the natural gas rig count decreased by 4 to 71. The number of oil-directed rigs fell by 1 to 180. The total rig count decreased by 5, and it now stands at 253.

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Rob Cook, RobCookKC@gmail.com