Natural Gas Weekly Update

The Henry Hub spot price fell 3 cents from $3.11 per million British thermal units (MMBtu) last Wednesday to $3.08/MMBtu yesterday.

Henry Hub drops 3 cents to $3.08

Henry Hub spot price: The Henry Hub spot price fell 3 cents from $3.11 per million British thermal units (MMBtu) last Wednesday to $3.08/MMBtu yesterday.

Henry Hub futures prices: The price of the February 2023 NYMEX contract decreased 24.4 cents, from $3.311/MMBtu last Wednesday to $3.067/MMBtu yesterday. The price of the 12-month strip averaging February 2023 through January 2024 futures contracts declined 14.2 cents to $3.411/MMBtu.Select regional spot prices: Natural gas spot price changes were mixed this report week (Wednesday, January 18, to Wednesday, January 25), with decreases at locations in the West and increases at most locations east of the Rocky Mountains. Week-over-week price changes ranged from a decrease of $4.76/MMBtu at the PG&E Citygate to an increase of $0.99/MMBtu at Algonquin Citygate.

Natural gas prices decreased across the West this report week but remain high. Although temperatures across the West were colder this week compared with last week, they have been rising since mid-week. The largest week-over-week decrease in price was at PG&E Citygate, where the price fell $4.76, down from $20.08/MMBtu last Wednesday to $15.32/MMBtu yesterday. Temperatures averaged 45°F in the San Jose Area on Saturday, which is 6°F lower than normal, while yesterday they averaged 54°F, which is 2°F higher than normal. The price at Sumas on the Canada-Washington border fell $3.70 from $18.23/MMBtu last Wednesday to $14.53/MMBtu yesterday. A similar pattern was observed across other major price hubs in the West. The price at SoCal Citygate in Southern California decreased $3.86 from $20.63/MMBtu last Wednesday to $16.77/MMBtu yesterday. Temperatures in the Riverside Area, inland from Los Angeles, averaged 48°F last Thursday, which is 8°F below normal, and rose over the week, averaging 56°F on Tuesday, which is normal.