The ZEMA graph above shows the North American natural gas spot prices on NYMEX for Henry Hub, Transco Zone 6, PG&E Citygate, and Chicago Citygates between November 01 – 30, 2015. Units are in USD/MMBtu.
On NYMEX, prices at Henry Hub and Chicago remained relatively similar at just below 2.40 USD/MMBtu throughout the first three weeks of November 2015. Henry Hub spot prices dropped to $2.14 USD/MMBtu on November 20, near the lowest levels since 2012. That is sharply down from the levels that Henry Hub traded over the summer, near $3 USD/MMBtu. The prices settled at 2.24 on November 30.
Prices at Transco 6, on the other hand fluctuated between 3.0 USD/MMBtu to 4.0 USD/MMBtu level at 3.93 USD/MMBtu on November 01 to 2.84 USD/MMBtu on November 16, and settled at 3.02 USD/ MMBtu on November 30. Prices at PG&E have been relatively stable, beginning the month at 2.76 USD/MMBtu, climbing to 2.86 USD/MMBtu on November 16, and falling down to 2.72 USD/MMBtu on November 30.
The fall in gas prices over the three weeks of November is a result of an oversupplied market and mild weather, supported by a new record of working gas in storage at 4,000 Bcf as of November 13.[1]
Comparing November 2015 prices to the same period last year, monthly average gas prices decreased in Transco 6, Chicago Citygates, Henry Hub, and PG&E by 54%, 45%, 45%, and 41%, respectively as a result of oversupply of Natural Gas.
Source: [1] http://ir.eia.gov/ngs/ngs.html
Data Sources: NYMEX
