Henry Hub front-month futures and spot prices have come under pressure as the latest weather forecasts predict a mild start to February 2017 in the United States. Nevertheless, the month as a whole is forecast to be colder than February 2016, which will support prices in the second half of the month.
Weather forecasts indicate a 45% chance of above-average temperatures in the US during the next 6-10 days and there is a 75% chance of mild weather in Louisiana, where the Henry Hub pricing point is located. Consequently, the Henry Hub front-month futures price is trading at around $3.20/MMBtu, a fall of around 2% from last month’s average.
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