Slide 5 of 10
- Peak monthly spot wellhead prices this winter of over $8.40, occurred in December 2000. Last month we projected a price average of $6.13 per mcf for December. Recently, concern about cold weather and low stocks pushed daily spot gas prices over $10.50 per mcf on December 29, 2000. However in early January of this year, forecasts of warm weather pushed the price down by more $1.00 per mcf in one day, indicating the extraordinary volatility in the current U.S. market.
- Spot prices at the Henry Hub traded at a midpoint of $6.91 per MMBtu on Wednesday. This is the first time the price has been below $7.00 since December 1, 2000 and is more than $3.60 per MMBtu lower than at the peak price on December 29th.