Rally at US Henry Hub continues
The US benchmark for the price of natural gas continued to rally on December 7 after a heavy decline last week and on forecasts of a winter airmass moving across the country.
The January gas delivery contract at the US Henry Hub was up 2.3% as of 12:27 GMT to trade at $3.74/mn Btu. The contract lost nearly 25% during the week ending December 3.
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Last week saw temperatures across much of the Northern Plains and Great Lakes states spike well above the average for this time of year, though the same cannot be said for this week.
The National Weather Service now forecasts below-average temperatures for the Midwest, Great Lakes and Northeast states over the next few days. Heavy snow is possible for parts of the Sierra Nevada mountain range and a “true winter airmass” is expected to settle over the north-central and eastern United States.