Henry Hub flatlines after 3.9% rally
The January gas contract at the US Henry Hub was trading relatively flat on December 21, though renewed pandemic-related concerns could create some headwinds.
The contract was up 0.08% as of 12:30 GMT to trade at $3.84/mn Btu. The price bucked broader market trends during the previous session to finish the day up 3.9% to close at $3.83/mn Btu.
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Broader markets are turning lower on concerns about the spread of the highly contagious Omicron variant of the coronavirus. Several European nations are reimposing social restrictions to control the spread and Boston’s mayor this week said mandates on masks and vaccination will enter into force in early January.
In announcing additional financial aid for the global effort to curb new outbreaks, US secretary of state Anthony Blinken said “the world is at a critical point in our global response to this virus.”
Elsewhere, the winter solstice occurs December 21 though weather has been relatively mild for much of the season so far. US federal forecasters last week showed that it was the sixth warmest year so far through November.
But parts of the upper Great Lakes region through to the northeast can expect snow over the next day or two. States bordering the eastern waters of the Gulf of Mexico are in store for heavy rains, while the National Weather Service adds that below average temperatures are confined only to the Northern Plains states.