Natural Gas Pressured By Pipelines From Rockies: Energy Markets

U.S. natural gas is poised to extend its biggest annual decline since 2004 as new pipelines from the Rocky Mountains deepen an unprecedented glut of the fuel.

National spot prices at the Henry Hub, the delivery point for New York Mercantile Exchange futures, fell 1.72 cents below those at Opal Hub, Wyoming, the benchmark price for the Rockies, for the first time in a year on Nov. 22. They have averaged 43 cents more than Opal’s so far this year and were as much as $7.52 higher in September 2008.