SoCal Blowout Continues as Natural Gas Futures Bounce on Colder Outlook, Lean Storage

  • SoCal Citygate high reaches $28/MMBtu on higher demand, import constraints
  • SoCalGas demand ~4 Bcf/d, utility relying more on storage, notes Genscape
  • March futures up 4.3 cents to settle at $2.659
  • Prompt month “cheapest gas around,” traders maybe getting “head start” on injection, says INTL FCStone’s Saal
  • Breaking: EIA reports 124 Bcf draw for week ending Feb. 16
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Natural Gas Futures in Holding Pattern as Weather Disappoints; SoCal Continues Run Higher

  • March contract near even at $2.587 as February cold outlook unimpressive
  • EIA to report ~183 Bcf withdrawal from U.S. natural gas stocks this week, survey says.
  • After time of press, 194 Bcf withdrawal recorded
  • ~0.8 Bcf/d S. TX exports to Mexico impacted by planned maintenance Los Ramones I: Genscape
  • SoCal Citygate up 19 cents on colder temps, EPNG maintenance a factor
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