What is the NYMEX natural gas?

What is the NYMEX natural gas?

The NYMEX, or New York Mercantile Exchange, is an organized market where tradable commodities—such as contracts on natural gas—are bought and sold. The NYMEX is the world’s largest exchange for energy products.

What is the highest natural gas has ever been?

Historically, Natural gas reached an all time high of 15.78 in December of 2005. Natural gas – data, forecasts, historical chart – was last updated on January of 2022.

What time does NYMEX natural gas settle?

Natural gas futures contracts are traded on the NYMEX each business day between the hours of 9:00 AM and 2:30 PM for the regular session. The forward month, which is the next month to close, settles 3 business days prior to the start of gas flow.

What is NYMEX pricing?

NYMEX Price means, for a given Delivery Month, the average of the daily settlement prices for the current month contract on the New York Mercantile Exchange for light sweet crude oil during the calendar month for which such Delivery Month is referenced.

How does natural gas compare to oil?

Natural gas is the cleanest fuel compared to crude oil and other gases because it produces less carbon dioxide. Burning natural gas produces about 30% less carbon dioxide than crude oil or petroleum and 45% less than burning coal. The demand for crude oil and natural gas is very high.

How much does a gallon of natural gas cost?

Let’s assume the cost for natural gas is $15.00 per 1,000 cubic feet. This means that $15.00 will purchase approximately 1.03 million BTU’s of energy. This would be equivalent to 11.26 gallons of propane. At $2.50 per gallon of propane, natural gas would be a more cost effective energy solution.

What is the future of natural gas?

The Future of Natural Gas is the fourth in a series of MIT multidisciplinary reports examining the role of various energy sources that may be important for meeting future demand under carbon dioxide emissions constraints.

What is the price of natural gas?

In 2020, natural gas spot prices at the national benchmark Henry Hub in Louisiana averaged $2.05 per million British thermal units (MMBtu), the lowest annual average price in decades. Prices started the year relatively low because mild winter weather led to less natural gas demand for space heating.