Iroquois Zone 2 Northeast Natural Gas Prices

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Iroquois Zone 2 Description

Our Iroquois Zone 2 index includes all transactions along Iroquois Gas Transmission south of (but excluding) the Wright Compressor Station in upstate New York. Zone 2 ends at the Hunts Point interconnect with the Con Edison system in the New York City metropolitan area.

Heating Season Nearly Done and Dusted as Natural Gas Futures Slide

With forecasts offering a clearer -- and generally bearish -- picture on the weather outlook through the end of the heating season, natural gas futures sold off Friday. In the spot market, forecasts for colder temperatures expected over the weekend boosted prices in the Northeast, while points in the West declined; the NGI Spot Gas National Avg. fell 13.5 cents to $2.715/MMBtu.

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Supportive EIA Storage Pull on Tap as Natural Gas Futures Gain; Cash Mixed

Expectations for a hefty late-season withdrawal from this week’s Energy Information Administration storage report helped natural gas futures continue to rebound Wednesday following a sharp sell-off earlier in the week. In the spot market, a mix of spring and winter weather in the forecast -- including snow in the Rockies and highs in the 60s and 70s further east -- produced a mix of price moves; the NGI Spot Gas National Avg. added 2.0 cents to $2.755/MMBtu. Read More

Moderating Temps Bring Down Weekly Natural Gas Spot Prices; Futures Tread Water

Given unseasonably cold temperatures that peaked early during the week ended March 8 before tapering off, some moderation in weekly spot prices was inevitable; indeed, the NGI Weekly Spot Gas National Avg. slumped $1.155 to average $3.435/MMBtu. Read More

Natural Gas Futures Steady as Market Mulls Storage Picture; Cash Falls

After weighing lean stockpiles against the potential for eventual milder temperatures and ample production to quickly re-establish a supply cushion, the natural gas futures market decided to stand pat Friday. In the spot market, a mild weekend forecast sent Northeast prices plunging; the NGI Spot Gas National Avg. dropped 12.0 cents to $2.850/MMBtu. Read More

Late-Season Cold Helps Shatter Spot Price Record as Northwest Sumas Leads Weekly Natural Gas Gains

Late-season cold accompanied sharp natural gas spot price gains throughout the Lower 48 during the week ended Friday (March 1), including a new record-high trade in the Pacific Northwest; the NGI Weekly Spot Gas National Avg. added $1.315 to $4.590/MMBtu. Read More
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Natural Gas Bulls Fail to Gain Momentum as Outlooks Trend Colder; Spot Gas Mixed

The stars were aligned for natural gas bulls hoping to ride the wave of Tuesday’s gains as weather models continued to trend colder for the late February/early March period. But after hitting an intraday high of $2.689, the Nymex March gas futures contract slid from there, eventually settling Wednesday at $2.636, down 2.6 cents. April fell 2.8 cents to $2.669. Read More

Near-term Cold Keeps Natural Gas Bulls in Game; Spot Gas Slides

After a brief dip into negative territory, natural gas futures posted another gain Tuesday as the American weather model turned more aggressive, with cold returning to the East later this month. With already strong demand on tap beginning this week and lasting through next week, the Nymex March gas futures contract settled 4.6 cents higher at $2.688. April was up 4.6 cents to $2.705.

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Developing Cold Snap Fuels Natural Gas Futures; Spot Prices Mixed

Natural gas futures rallied to start the week as weather guidance trended colder with a weather system expected to hit the United States this weekend and others that would potentially last into March. The Nymex March gas futures contract climbed 5.9 cents to settle Monday at $2.642, while April jumped 5.5 cents to $2.659. Read More

Weekly Prices Mostly Lower as Spring Arrives Early; West Volatile on Localized Cold

Despite mostly mild weather across the United States this week, some localized frigid air in the West led to extreme volatility in that region. Prices for the Feb. 4-8 period spiked nearly $20 in the Rockies and more than $10 in California as demand hit record levels. Elsewhere, however, temperatures turned springlike and led to a substantial sell-off, especially in Northeast markets. The NGI Weekly National Avg.ultimately rose 59 cents to $3.525.

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Colder Late-February Outlooks Give Boost to Natural Gas Futures; Cash Sinks

Natural gas futures prices put up modest gains Friday as weather models trended colder with a cold snap expected to hit the country around Feb. 18, and hinted at the possibility of more winter storms to follow. The Nymex March gas futures contract edged up 3.2 cents to settle at $2.583, while April rose 3.2 cents to $2.604. Read More