Natural Gas Plunge

[Hamloc]

Suffield storage spot nat gas spot price update in November. Early November, spot was as high as $5.40 per gigajoule. Today, late Nov sport price is $4.18 per gigajoule. The low posted was $3.77 per gig last week.

Overall Cdn natural gas prices have dropped about 25% since early month.

Henry hub up to $5.55 today, an increase of 48 cents. At the same time WTI dropped $10 a barrel.

[errolanderson]

Henry hub up to $5.55 today, an increase of 48 cents. At the same time WTI dropped $10 a barrel.

Suffield spot AECO price steady all week @ $4.35 per gigajoule.

[JankoFarms]

Suffield spot AECO price steady all week @ $4.35 per gigajoule.

European nat gas still needs to be cut in half before they can start making Nitrogen again. Definitely no plunge yet

[errolanderson]

The fallout speed in natural gas is amazing. February natural gas broke below $4.20/MMBTU today. This now reflects a 33% recent washout. $4/MMBTU should be major chart support.

If that breaks, not sure where this market is going . . . .

[farming101]

3.66 if there's a warm December.
Injections the first two weeks of Nov

[shtferbrains]

European nat gas still needs to be cut in half before they can start making Nitrogen again. Definitely no plunge yet

Takes about 35 gigajoules to make a ton of NH3.

Used to be considered 60 to 70% of production costs on an efficient plant.

Gas cost above is not delivered?

[furrowtickler]

The fallout speed in natural gas is amazing. February natural gas broke below $4.20/MMBTU today. This now reflects a 33% recent washout. $4/MMBTU should be major chart support.

If that breaks, not sure where this market is going . . . .

Hopefully way way lower , less carbon tax to pay on heating bills this winter and hopefully cheaper N fertilizer by spring . One can only hope

[AlbertaFarmer5]

Hopefully way way lower , less carbon tax to pay on heating bills this winter and hopefully cheaper N fertilizer by spring . One can only hope

Except the CO2 tax is fixed per tonne of supposed CO2, so even if gas went to zero, the CO2 tax would remain the same.

And don't count on lower N fert by this spring, until the worldwide deficit of N fert is recitfied, the rest of the world will be buying north American supplies at world prices, since they will have no other option there just won't be enough to go around.

[errolanderson]

3.66 if there's a warm December.
Injections the first two weeks of Nov

farming, great call . . . natural gas slumped right to your targeted support.

Major support now $3.30/MMBTU? That would represent a near 50% washout from recent fall gas highs.

[Hamloc]

farming, great call . . . natural gas slumped right to your targeted support.

Major support now $3.30/MMBTU? That would represent a near 50% washout from recent fall gas highs.

Prices for Natural Gas in North America have certainly moderated, not so much in Europe. Oil edging back up today.