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Henry Hub Natural Gas Spot Prices 2008

As of Thursday, September 11, approximately 73 percent of the natural gas production in the Gulf has been shut-in. Many offshore natural gas pipelines continue to experience gas flow reductions or complete shut-in of their systems due to Gustav. As Hurricane Ike approaches the Gulf of Mexico, many natural gas producers, pipeline and processing plant operators are taking advanced precautions to shut-in and shut down operations.

On September 10, the Henry Hub natural gas spot price was $7.65 per million British thermal units (mmBtu), which was 39 cents, or 5.4 percent, higher than the price of $7.26 last Wednesday. This Wednesday's price of $7.65 was 25 percent higher than the price of $6.13 per mmBtu on the second Wednesday in September 2007.

The amount of natural gas in storage in the East Region increased 2.8 percent to 1,723 billion cubic feet for the week ending September 5, which was 94 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. A forecast of Henry Hub prices to the year 2030 is available in Table 104 on line 635. To obtain the price per hundred cubic feet (ccf) or the approximate price per therm, divide the price by ten (10).
This symbol indicates a rule of thumb follows.A general rule of thumb: Add three dollars to the Henry Hub spot price to estimate the residential natural gas price. Likewise, add 30 cents if you have already converted the price from British thermal units to ccf or therms.

This line graph shows weekly natural gas spot prices at the Henry Hub for the years 2004, 2005, 2006, and 2007.

Natural Gas Spot Prices at the Henry Hub 2008
[Price per Million British Thermal Units (mmBtu)]
Day Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Note:NA = Not available.

1 Holiday $7.89 $9.92 $10.66 $13.28 $9.05 Holiday NA NA
2 $7.83 $9.59 $10.37 $11.80 $13.31 NA NA NA
3 $7.84 $9.07 $9.68 $12.27 $13.00 $7.26 NA NA NA
4 $7.51 $7.56 $9.23 $9.36 $12.17 Holiday $9.20 $7.24 NA NA
5 $7.80 $9.37 $10.77 $12.49 $8.66 $7.40 NA NA
6 $7.94 $9.70 $11.09 $12.71 $8.70 NA NA
7 $7.61 $7.99 $9.82 $9.48 $11.08 $12.96 $8.78 NA NA
8 $7.59 $8.06 $9.78 $11.33 $12.47 $8.22 $7.68 NA NA
9 $7.88 $9.89 $11.29 $12.71 $12.09 $7.28 NA NA
10 $7.96 $9.59 $10.18 $12.72 $11.83 $7.65 NA NA NA
11 $8.13 $8.38 $9.85 $10.06 $12.49 $12.15 $8.18 NA NA NA
12 $8.37 $9.69 $11.38 $12.51 $8.23 NA NA NA
13 $8.35 $9.74 $11.18 $12.51 $8.11 NA NA
14 $8.45 $8.50 $9.84 $10.03 $11.51 $11.58 $8.15 NA NA
15 $8.43 $8.73 $10.16 $11.40 $11.79 $7.82 NA NA NA
16 $8.23 $10.11 $11.31 $12.73 $11.15 NA NA NA
17 $8.11 $9.59 $10.27 $12.87 $11.43 NA NA NA NA
18 $8.42 Holiday $9.10 $10.08 $12.93 $10.54 $7.74 NA NA NA
19 $8.91 $9.11 $11.10 $13.09 $7.73 NA NA NA
20 $9.08 $8.55 $10.95 $12.76 $8.02 NA NA
21 Holiday $8.90 Closed $10.50 $11.40 $10.58 $8.04 NA NA
22 $7.97 $8.65 $10.56 $11.58 $10.16 $7.98 NA NA NA
23 $7.84 $10.33 $11.57 $12.92 $9.89 NA NA NA
24 $7.85 $8.99 $10.58 $12.96 $9.70 NA NA NA NA
25 $7.80 $9.15 $9.28 $10.72 $12.76 $9.34 $7.62 NA NA NA
26 $9.21 $9.25 Holiday $12.70 $8.02 NA NA NA
27 $9.21 $9.30 $11.85 $13.10 $8.55 NA NA
28 $7.87 $9.11 $9.37 $10.95 $11.60 $9.26 $8.36 NA NA
29 $8.10 $9.10 $10.94 $11.81 $9.17 $8.23 NA NA NA
30 $8.17 $10.81 $11.43 $13.19 $9.01 NA NA NA
31 $8.10 $9.86 $9.26 NA NA

Sources:Natural Gas Weekly Update. Energy Information Administration, Washington, DC. Nebraska Energy Office, Lincoln, NE.

This report was updated on September 12. Typically, there is one week between updates.