- The weatherman’s promise for chillier temperatures later this week and mention of the word "snow" in some forecasts was the likely catalyst propelling prices upwards this week. In an environment of generally supportive market fundamentals, the Henry Hub price closed up 7 cents for the week to $3.65 per million British thermal units (MMBtu) on October 26.
- At the New York Mercantile Exchange (NYMEX), the November 2011 natural gas contract rose just under half a cent per MMBtu for the week to close at $3.590 per MMBtu.
- Working natural gas in storage rose last week to 3,716 billion cubic feet (Bcf) as of Friday, October 21, according to the U.S. Energy Information Administration’s (EIA) Weekly Natural Gas Storage Report (WNGSR). The implied increase for the week was 92 Bcf, leaving storage volumes positioned 28 Bcf under year-ago levels..
- The natural gas rotary rig count, as reported October 21 by Baker Hughes Incorporated, fell by 9 to 927 active units. Meanwhile, oil-directed rigs fell by 1 to 1,079 units.
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