Following a remarkable bull run since March, Henry Hub Winter-21 has retraced over half of the move up over the past month. The initial run up had been driven by fears of large drops in associated gas production amid widespread Covid induced well shut ins. Since late August however, the oil rig count has increased by around a third relaxing the market, which along with a mild start to winter and stubbornly high stocks has seen a sharp correction in Henry Hub.
Henry Hub and Brent pathways diverge