Nino

A string of record-warm months continued in March, and the Northeast and other population centers can expect more unusually high temperatures in May, according to forecasters at the National Oceanic and Atmospheric Administration (NOAA).

A string of record-warm months continued in March, and the Northeast and other population centers can expect more unusually high temperatures in May, according to forecasters at the National Oceanic and Atmospheric Administration (NOAA).

April natural gas is expected to open 4 cents lower Wednesday morning at $1.70 as traders digest extreme eastern warmth seen in near-term forecasts and heating degree days about half of normal. Overnight oil markets were mixed.

Physical natural gas for Tuesday delivery gained ground in Monday’s trading, barely outpacing a lackluster performance on the screen.

The El Nino event that has been helping to dull the worst of the U.S. winter weather won’t dissipate for several more months, according to the National Oceanic and Atmospheric Administration’s (NOAA) Climate Prediction Center (CPC), potentially bad news for anyone hoping for higher natural gas prices.

Physical natural gas for delivery Thursday slumped in Wednesday trading as strength at Marcellus points and California was unable to overcome weakness at most other market points.

A strong El Nino event in the Pacific Ocean continued unabated last month and is expected to remain strong through the winter, according to the National Oceanic and Atmospheric Administration’s (NOAA) Climate Prediction Center (CPC), a forecast that would further dampen natural gas prices.

Physical natural gas for weekend and Monday delivery was mostly firm in Friday’s trading as multi-dollar gains in the Northeast more than countered losses in California and widespread though more modest gains at most other market points.

A strong winter storm system that began in the West, marched eastward early in the week, made it into the Midwest by Friday and was expected to impact the East Coast by Sunday was enough to give the physical natural gas market a boost for the week ended Nov. 20.