Slump for US natural gas prices continues
The December gas delivery contract at the US Henry Hub continued its downward trend on November 15 following a 13% slump the previous week.
The contract moved further away from $5.00/mn Btu threshold, losing 0.54% as of 12:20 GMT to trade at $4.77/mn Btu.
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Recent trends are in contrast to a forecast from the US Energy Information Administration that Henry Hub would average $5.53/mn Btu from November through February before slipping below $4.00/mn Btu for the remainder of 2022.
US natural gas supplies in storage, meanwhile, remain below the five-year average.