Henry Hub recovers after a series of losses
The December gas delivery contract at the US Henry Hub was in recovery mode on November 11 following a series of slumps, though trading was thin due to the federal Veterans Day commemoration.
The contract was up 2.6% as of 12:23 GMT to trade at $5.00/mn Btu. That followed a string of declines that left the contract below the $5.00/mn Btu mark for two consecutive days.
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Traders may be buying the dip after four consecutive days of losses. The National Weather Service, meanwhile, is forecasting inclement weather for parts of the Northern Plains states and upper Great Lakes.
A blizzard warning is in place for parts of eastern North Dakota, though the forecast indicates the biggest impact will be from strong winds across much of the region, creating a risk of power outages.
Elsewhere, energy security risks in the European market could be influencing the US contract. The Belarusian government threatened to cut natural gas transit to the European market over a dispute with the EU over the handling of migrants.
US markets are closed November 11 in observance of Veterans Day.