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Regional natural gas forwards fell sharply during May 23-29 as the June Henry Hub fixed price dropped 34.4 cents to $2.501/MMBtu. Analysts pointed to EQT bringing curtailed output back ahead of summer, and Wood Mackenzie estimated domestic output at 99.6 Bcf/d.
The Mountain Valley Pipeline expansion also added capacity.
Rising output and new pipeline capacity push forward gas prices lower, which lowers energy costs for US feed processors. Wider Appalachian basis differentials show the regional supply glut.
naturalgasintel.comJeremiah ShelorMay 31, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
