The Henry Hub spot price fell from $3.11 per million British thermal units (MMBtu) last Wednesday to $3.00/MMBtu yesterday.
At the New York Mercantile Exchange (Nymex), the June 2017 contract expired Friday at $3.236/MMBtu. The July 2017 contract price decreased to $3.071/MMBtu, down 23¢ Wednesday to Wednesday.
The implied net flow to working gas totaled 85 billion cubic feet (Bcf) for the week ending May 26. The week-over-week net change in working gas was 81 Bcf, and the 4 Bcf difference resulted from a non-flow inventory adjustment that reduced working gas levels by 4 Bcf for the report week. Working natural gas stocks are 2,525 Bcf, which is 13% less than the year-ago level and 10% more than the five-year (2012–16) average for this week.
The natural gas plant liquids composite price at Mont Belvieu, Texas, fell by 9¢, averaging $6.17/MMBtu for the week ending May 31. The price of natural gasoline, ethane, butane, and isobutane fell by 3%, 2%, 3%, and 1%, respectively. The price of propane remained flat week over week.
According to Baker Hughes, for the week ending Friday, May 26, the natural gas rig count increased by 5 to 185. The number of oil-directed rigs rose by 2 to 722. The total rig count increased by 7, and it now stands at 908.