How to Read Micro Henry Hub Natural Gas Futures Quotes

MGH is quoted in U.S. dollars and cents per MMBtu, identical decimals to NG but one-tenth the dollars: a $1.00 move per MMBtu equals $1,000 per MGH contract versus $10,000 for NG. The convention gives every digit its contract meaning. Do not infer a contract value from digits alone when the product root and quotation unit are absent.

What Micro Henry Hub Natural Gas futures are explains the standard MGH unit and cash-settlement design. Micro Henry Hub Natural Gas futures expiration and final settlement shows why an otherwise similar price must still retain its named contract month.

MGH names the futures product family, not a single timeless contract. Preserve the month code and year before comparing prices, looking at a chart, or discussing a settlement date. Monthly listings keep many months alive at once, so an interface's nearby shorthand is not evidence of a fixed quarterly schedule.

Futures contract month codes decodes a compact MGH month letter and year into the dated fuel agreement behind the digits. When a quote lacks either field, log it as unknown instead of borrowing the most visible contract's date.

For an ordinary outright MGH trade on CME Globex, 0.001 USD per MMBtu is the minimum fluctuation, equal to $1.00 per 1,000 MMBtu contract. That is a contract rule for this quote type, not a universal display precision for gas data: the same 0.001 decimals on NG mean $10.00, ten times more.

Futures tick value and contract multipliers runs the MGH dollar math once the tenth-size instrument is fixed. How to read futures contract specifications separates the 1,000 MMBtu trading unit, the dollars-per-MMBtu quotation, the market path, and the price increment into four fields.

An eligible micro gas calendar spread is a simultaneous relationship between two MGH contract months moving in the same 0.001 steps. The shared grid does not merge the two legs into one record: each month and the relationship still need to be retained for margin, settlement, and roll analysis.

Futures calendar spreads describes why each MGH fuel leg and the relationship need to be retained. The Floating Price references NG final settlement on the MGH last trading day, so cross-product linkage belongs in the record rather than assumed from proximity.

A bid, ask, last trade, daily settlement, or another labelled field describes a different observation. The source, timestamp, time zone, session, and status such as real-time, delayed, closed, or indicative complete that label. A continuous chart can also change its underlying month and should not replace a tradable month-year.

Futures settlement price versus last trade explains why an MGH daily settlement print and an MGH fuel transaction print cannot be swapped just because their prices sit close together.

This guide explains MGH quote interpretation. It does not provide a live price, validate a market-data entitlement, recommend an order, or predict gas. Current NYMEX rules and a provider's data terms govern a particular observation.