Wednesday, October 28, 2009

Spot Price Holding...For Now

The Henry Hub spot price has hung around in the $4.50's this week, closing at $4.57/MMBtul today. That's remarkable stability (only over three days, however) given the amazing price swings in the past month between $2.32 and $4.99.

Close of business today marks the beginning switch to the next month futures contract (from November to December), so the "NYMEX Futures" price suddenly jumped from around $4.29 this afternoon (still that price on the ticker to the right) to around $5.08 (at Bloomberg), but it still shows a loss of 4%. It should straighten out tomorrow.

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