U.S. Industry Metrics

Tightening natural gas market supply/demand fundamentals resulted in a rally in Henry Hub prices from late August into September, with prices up more than 100% on the year. Record hot weather in the Lower 48 states over the summer months sparked high demand for air conditioning, which led to record power burn. Also, supply disruptions following late August’s Hurricane Ida continued to affect the supply of natural gas along the U.S. Gulf Coast through September. Extensive damage was recorded to energy production-related infrastructure, including support facilities and natural gas processing plants at Port Fourchon, Louisiana and along the Gulf Coast. GP