The ZEMA graph above shows the spread between this month’s Henry Hub natural gas forward curve and last month’s forward curve, based off of average settle prices on NYMEX. Units are in USD/MMBtu.
On NYMEX, the average price of Henry Hub natural gas contracts in November 2015 for delivery in the next 12 months (represented above by the orange line) increased by 6.32% compared to the last month average at $2.95 USD/MMbtu. Data from NYMEX suggests the spread between November 2015 to October 2016 contracts (represented by the purple bar) averaged at 0.27 USD/MMbtu for the next 12 months. As the purple bars show, the spread has a trend of slowly dwindling for the upcoming year.
Data Sources: NYMEX