Spot prices fell as the Presidents' Day holiday weekend approached; however, prices recovered with the
return of industrial demand and expectations of a cold snap. For the week (Wednesday to Wednesday),
spot prices at the Henry Hub fell 9 cents per million
British thermal units (mmBtu), or about 1 percent, to $6.02.
The amount of natural gas in storage in the East Region fell 6.4% for the week ending February 18 to
921 billion cubic feet which was 177 billion cubic feet above the 5-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
Natural Gas Spot Prices at the Henry Hub 2004 and 2005