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S&P Global Commodity Insights predicts prices at Henry Hub, the main futures contracts delivery point, will average more than $4.00 per million metric British thermal units (MMBtu) in 2025 after ...
And in Europe, natural gas prices jumped to 2024 highs this past week after Ukrainian troops crossed into Russia and claimed the capture of a key gas transit hub.
Monthly average natural gas prices, showing the location of the Henry Hub. The Henry Hub is a distribution hub on the natural gas pipeline system in Erath, Louisiana, owned by Sabine Pipe Line LLC, a subsidiary of EnLink Midstream Partners LP who purchased the asset from Chevron Corporation in 2014. [1]
The standardized NYMEX natural gas futures contract is for delivery of 10,000 million Btu of energy (approximately 10,000,000 cu ft or 280,000 m 3 of gas) at Henry Hub in Louisiana over a given delivery month consisting of a varying number of days. As a coarse approximation, 1000 cu ft of natural gas ≈ 1 million Btu ≈ 1 GJ.
The most commonly quoted producer price for natural gas is the Louisiana-based Henry Hub price, which is futures-traded on NYMEX. A barrel of oil releases about 5.8 million BTU when burned, so that 5.8 MCF of gas (at the standard one thousand BTU per cubic foot) releases about the same energy as a barrel of oil.
Natural gas prices have surged nearly 25% over the last month. Energy experts attribute the rise to cold weather expected in January and geopolitical issues around the globe.