On the Intercontinental Exchange (ICE), natural gas prices went down in all the observed North American hubs by the end of December 15, 2014, as is expected for a common seasonal trend. When compared to the first 15 days of December 2014, the prices decreased by 6% in New York’s Transco Zone-6 to $3.81 USD/MMBtu, by 12% in Chicago to $3.79 USD/MMBtu, by 8.6% in Henry Hub to $3.68 USD/MMBtu, and by 9.1% in California’s PG&E Citygate to $4.07 USD/MMBtu. Comparing December 2014 prices to last year’s prices, monthly average gas prices decreased in New York’s Z6, Chicago Citygates, Henry Hub, and PG&E by 17%, 13%, 30%, and 12%, respectively. In the first three weeks of December 2014, Chicago Citygates was the most volatile hub with prices ranging from $3.55 USD/MMBtu on December 8 to $4.60 USD/MMBtu on December 1.
For the week ending December 17, 2014, EIA’s “Natural Gas Weekly Update” reported that cold December temperatures boosted natural gas prices. According to EIA, working natural gas in storage decreased to 3.3 Bcf as of Friday, December 12 with a net withdrawal from storage of 64 Bcf for the week resulting in storage levels 0.2% above year-ago levels and 7.3% below the five-year average for this week.
 “Natural Gas Weekly Update—Week Ending November 19, 2014,” U.S. Energy Information Administration, December 17, 2014, accessed December 18, 2014, http://www.eia.gov/naturalgas/weekly.
Data Sources: ICE