Industry metrics

In the US, Henry Hub natural gas spot prices lifted briefly in October, but then dropped below $2.50/MMBtu in early November. Both spot prices and rig counts have averaged lower on the year during the injection season in 2016, falling by $0.12/Mcf and 58%, respectively. Working gas stockpiles started the injection season at a record-high level in March, and refill volumes were the second-lowest since 2007. Meanwhile, production of NGL shrank considerably between July and August. Significant drops were seen in LPG and ethane/ethylene output. GP