uploads///Henry Hub Natural Gas Spot Price

Natural Gas Prices Rose Yet Again Last Week

By

Oct. 29 2018, Updated 11:10 a.m. ET

Natural gas prices

Natural gas prices for the week ending October 26 increased week-over-week at most of the locations in the US, according to the EIA (Energy Information Administration).

Article continues below advertisement

Weekly movements

At Henry Hub, which is the most heavily traded location in the US, natural gas prices rose by almost 1.5% week-over-week from $3.31 per MMBtu (million British thermal units) to $3.36 per MMBtu. Overall, natural gas prices have consistently been over the $3 level, which may pressure companies (MOO) such as CF Industries (CF), Mosaic (MOS), CVR Partners (UAN), and Nutrien (NTR).

Outlook

In its short-term energy outlook report published on October 10, the EIA forecasts that natural gas prices at Henry Hub will average around $299 per MMBtu in 2018. While the last week’s natural gas prices were above this forecast level, we must note that for the most part of 2018, the spot prices for Henry Hub have stayed below the $3 mark. The EIA’s forecast for an average natural gas spot price at $3.12 per MMbtu in 2019 means the EIA expects natural gas prices to rise in the coming year. In this case, nitrogen-based fertilizer companies may raise prices, which may pressure fertilizer buyers.

Next, we’ll discuss phosphate fertilizer prices.

Advertisement

More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.