US loses capacity to surprise
The fourth quarter's dramatic price rise and fall is not expected to be repeated
The US benchmark Henry Hub front-month contract saw unprecedented volatility in the fourth quarter of 2018. But a combination of milder-than-average weather since November, and the prospect of production increases and infrastructure delivery in 2019, lead analysts to predict a much calmer 2019. In fact, the main risk to prices-as-usual is seen on the downside for the summer, dependent on temperatures and hence storage withdrawals for the remainder of Q1. The Chicago Mercantile Exchange (CME) Nymex Henry Hub front-month futures contract had been trading in a $2.65-3.30/mn Btu range from mid-April until early November, shooting higher to a peak of over $4.70/mn Btu on 28 November. The fall in
Also in this section
10 March 2026
From Venezuela to Hormuz, the US—backed by the most powerful military force ever assembled—is redrawing not only oil and gas flows but also the global balance of energy power
10 March 2026
By shutting the Strait of Hormuz, Iran has cut exports of distillate-rich Middle Eastern crude, jet fuel and diesel, and is holding the energy market hostage
10 March 2026
Eni’s director for global gas and LNG portfolio, Cristian Signoretto, discusses how demand will respond to rising LNG supply, and how the company is expanding its own gas and LNG operations through disciplined, capital-efficient investments
9 March 2026
Petroleum Economist analysis sees increases in output from Saudi Arabia, Venezuela and Kazakhstan among others before region’s murky descent
