Natural-Gas Prices Reach Highest Level in Nearly a Year

  • 2 Nov 2012
  • By U.S. Energy Information Administration
  • Topics: Energy

East Coast Storms Boost Residential Demand

Benchmark U.S. natural-gas prices rose to the highest levels in almost a year, though the recent rally flattened out as Hurricane Sandy depressed power demand in the Northeast, the Energy Information Administration said.

Henry Hub gas as of October 31 was $3.50 per million British thermal units, up 7 cents from a week earlier and the highest since late November 2011. In midday NYMEX futures trading November 2, gas for December delivery fell 12.9 cents to $3.57, after earlier dropping to $3.552, a five-week low.

In the Northeast, gas power burn generally fell over the past few days, "possibly as a result of reduced demand for electricity,” the EIA said. However, any declines in gas-fired generation because of electric power demand destruction “may be somewhat mitigated by power producers substituting natural gas for lost nuclear capacity resulting from the storm."

During the week ended October 31, total U.S. gas demand rose 9.1% from the previous week, as blizzards in the Eastern U.S. propelled a surge of nearly 35% in residential and commercial use. Working gas in underground storage increased to 3.908 trillion cubic feet as of October 26, up 65 billion cubic feet from the previous week and the highest since the EIA began keeping records.

Read Full Report

Futures & Options Trading

As the world's leading and most diverse derivatives marketplace, CME Group is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through the CME Globex electronic trading platform and trading facilities in New York and Chicago. CME Group also operates CME Clearing, one of the largest central counterparty clearing services in the world, which provides clearing and settlement services for exchange-traded contracts, as well as for over-the-counter derivatives transactions through CME ClearPort.

Idea Exchange

Idea Exchange is your direct link to the product managers, marketers, and the development teams who create and will allow you to review functionality, participate in focus and provide feedback on upcoming Web initiatives

Idea Exchange - Join Our User Focus Program

Contact Us

CME Group/Chicago HQ:
Local: +1 312 930 1000
Toll Free: +1 866 716 7274

Global Customer Contacts

More CME Group Direct Lines
Phone list by department

Global Partnerships


Global Offices Contact Information

Calgary Houston Chicago New York Washington São Paulo Belfast London Singapore Hong Kong Seoul Tokyo Beijing

© 2014 CME Group Inc. All rights reserved.

CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX, and COMEX.