Lower cooling demand pulled prices down this week. On June 28, the Henry Hub natural gas spot price had fallen 46 cents per million British thermal units (mmBtu), or 7.1 percent, since last Wednesday to $6.04. This Wednesday's price of $6.04 was $1.36 lower than the price of $7.40 per mmBtu on the fourth Wednesday in June, 2005. Spot prices are 14 percent lower than a year ago from June 28, yet they remain high compared with the historical average.
The amount of natural gas in storage in the East Region increased 3.2 percent to 1,359 billion cubic feet for the week ending June 23, which was 339 billion cubic feet above the five-year average. Nebraska is a part of the East Region (see map) which is a major natural gas consumer, particularly in the residential and commercial sectors. The industrial sector, which includes agriculture, is also a major consumer in this state. Most of the gas is supplied from the Producing Region with a fair amount imported from Canada. The Henry Hub in southern Louisiana is a major market center with interconnections for many of the pipelines that transport U.S.-produced gas to the East Region. Furthermore, the Henry Hub is the preferred reference point for prices for most of the domestic gas destined for the East. Therefore, market conditions and developments in the East Region and price movements and trends at the Henry Hub are usually highly correlated.
Notes: An archive is available. Divide the price by ten (10) to obtain the price per hundred cubic feet (ccf) or the approximate price per therm.
Day | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Note: NA = Not available. | ||||||||||||
1 | $8.71 | $6.62 | $6.54 | $6.24 | NA | NA | NA | NA | ||||
2 | Holiday | $8.00 | $6.69 | $6.68 | $6.23 | NA | NA | NA | ||||
3 | $9.91 | $8.01 | $6.59 | $7.05 | $6.56 | NA | NA | NA | NA | |||
4 | $9.25 | $7.02 | $6.46 | NA | NA | NA | NA | NA | ||||
5 | $9.23 | $6.88 | $6.80 | $6.41 | NA | NA | NA | NA | ||||
6 | $9.28 | $8.26 | $6.49 | $7.05 | $6.16 | NA | NA | NA | NA | NA | ||
7 | $7.73 | $6.53 | $6.80 | $5.82 | NA | NA | NA | NA | NA | |||
8 | $7.88 | $6.48 | $6.54 | $5.85 | NA | NA | NA | NA | ||||
9 | $8.80 | $7.56 | $6.31 | $6.56 | $6.10 | NA | NA | NA | ||||
10 | $8.60 | $7.56 | $6.40 | $6.83 | $6.50 | NA | NA | NA | NA | |||
11 | $8.55 | $6.99 | $6.81 | NA | NA | NA | NA | NA | ||||
12 | $8.70 | $6.79 | $6.35 | $6.02 | NA | NA | NA | NA | ||||
13 | $8.53 | $7.36 | $6.76 | $6.67 | $5.95 | NA | NA | NA | NA | NA | ||
14 | $7.03 | $7.14 | Holiday | $6.09 | NA | NA | NA | NA | NA | |||
15 | $7.31 | $7.10 | $5.92 | $6.43 | NA | NA | NA | NA | ||||
16 | Holiday | $7.16 | $7.12 | $5.99 | $7.04 | NA | NA | NA | ||||
17 | $8.81 | $7.38 | $7.17 | $7.22 | $6.16 | NA | NA | NA | NA | |||
18 | $8.85 | $7.61 | $5.78 | NA | NA | NA | NA | NA | ||||
19 | $8.21 | $7.72 | $5.77 | $6.71 | NA | NA | NA | NA | ||||
20 | $8.78 | Holiday | $7.00 | $7.96 | $6.62 | NA | NA | NA | NA | NA | ||
21 | $7.40 | $6.83 | $7.64 | $6.50 | NA | NA | NA | NA | NA | |||
22 | $7.54 | $7.07 | $5.90 | $6.51 | NA | NA | NA | NA | ||||
23 | $8.29 | $7.23 | $7.16 | $6.27 | $6.14 | NA | NA | NA | ||||
24 | $8.25 | $7.40 | $7.43 | $7.73 | $6.01 | NA | NA | NA | NA | |||
25 | $8.50 | $7.37 | $5.86 | NA | NA | NA | NA | NA | ||||
26 | $7.85 | $7.18 | $5.78 | $5.89 | NA | NA | NA | NA | ||||
27 | $8.18 | $6.97 | $7.06 | $6.93 | $5.97 | NA | NA | NA | NA | NA | ||
28 | $6.68 | $7.15 | $6.65 | $6.04 | NA | NA | NA | NA | NA | |||
29 | $7.16 | Holiday | NA | NA | NA | NA | NA | |||||
30 | $8.35 | $7.18 | $6.21 | NA | NA | NA | NA | |||||
31 | $8.73 | $6.98 | $5.97 | NA | NA | NA |
Sources: Natural Gas Weekly Update. Energy Information Administration, Washington, DC. Nebraska Energy Office, Lincoln, NE.
This report was updated on June 29, 2006.
Typically, there is one week between updates.