Henry Hub prices dipped below the $3/mmbtu mark today, for the first time since May21.
Unseasonably mild winter is to blame for this wild, wild bear run…
Heating degree days were down by 20% yoy since the start of 2023, weighing on residential and commercial demand, which dropped by a whooping 25%.
Storage levels returning to above their 5y averages and lower-than-expected LNG feedgas flows were also feeding the bears…
What is your view? Where is Henry heading after breaching the $3/mmbtu mark? Is there further downside risk?
Source: Greg MOLNAR (LinkedIn)
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