Henry Hub futures up
June 7 (LNG) - US natural gas futures have jumped to a 13-year high as very hot temperatures were forecast in the next week combined with lower gas field production levels and more LNG shipments. The front-month July New York Mercantile Exchange (Nymex) Henry Hub natural gas futures contract increased almost 10 percent on June 6.
The Henry Hub prices for July hit $9.368 per million British thermal units while the August contract was quoted at $9.350. The Nymex price on June 7 was last at $9.49 per MMBtu. Analysts said the Nymex futures were also driven by rising LNG exports while natural gas output is falling short of forecasts.
LNG market considers impact of soaring US Henry Hub price on rising US cargo needs in Europe and Asia
Global natural gas and LNG markets have been given further considerations to add to the mix of North Asian spot cargo prices and European gas values as the NYMEX Henry Hub jumped to $8.80 per million British thermal units on perceived very high future LNG demand from Germany to Guangdong.
Nymex contract soars while US is ‘effectively abandoning’ Marcellus Shale as resource with end of pipeline
The US front-month New York Mercantile Exchange natural gas price soared to seasonal record heights before expiration as the nation saw the cancellation of one of the key infrastructure projects, the PennEast Pipeline, linked to future demand in the US Northeast for natural gas from the Marcellus Shale Basin.
European LNG values break records as Asian spot prices rise again and Nymex Henry Hub hits $5 mark
European natural gas prices and LNG values hit summer season records of over $19 per million British thermal units as Asian spot cargo prices soared over $21 per MMBtu and US Henry Hub futures moved over the $5 per MMBtu level, signalling global shortages for gas for power in the coming Northern Hemisphere winter.
US natural gas and LNG prices mixed amid demand concerns as Asia and Europe try to manage over-supply
The US exported 10 liquefied natural gas shipments in the past week, one less than the previous week, as mixed US natural gas prices were offset by increasing LNG values in Europe and Asia on demand expectations even as the market remained over-supplied.
Oil prices rise as US LNG exports also increase while domestic demand and Mexican pipeline flows drop
Crude oil prices rose by around 2.5 percent and North Sea Brent moved towards the $42 per barrel level while an increase in weekly US liquefied natural gas exports was accompanied by drops in US domestic natural gas consumption and pipeline exports to Mexico.
