The following is a summary analysis for the week ended Feb 18, 2011.
- Cold weather moderated throughout much of the country which resulted in a decline in heating demand, and pushed prices down.
- The NYMEX Henry Hub March contract declined $0.12 closing the week at $3.92 / MMBTU.
- Working gas in storage sits at 1,911 BCF, approximately 6% below the five year average.
- According to Baker Hughes the natural gas rig count dropped by 5 units to 906, which is 15 rigs higher than the same time last year.