In its first full fall forecast of the year, Weather Services International (WSI) said it expects temperatures nationally to average cooler than normal from the Northern Plains into the Ohio Valley over the next three months, with above-normal temperatures elsewhere, particularly across portions of Texas and the Southwest.
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Marcellus, Midcontinent No Match For Broad Cash Weakness; Futures Flounder
Physical natural gas prices for Tuesday delivery overall fell a penny on average Monday as most points fluctuated within a few cents of unchanged. Modest strength in the Midcontinent and double-digit gains at certain Marcellus points were unable to offset broad weakness elsewhere. At the close of trading October futures had retreated 8.5 cents to $3.602 and November was off 8.6 cents to $3.677. November crude oil dropped $1.16 to $103.59/bbl.
Midwest Buyers Juggle Storage, Weather; Futures Slip Again
Natural gas prices for volumes delivered Thursday fell nationally in Wednesday’s trading, with the steepest declines at Northeast points as temperatures were expected to moderate. Midwest locations were off less than a dime and major market hubs averaged about a nickel lower.
Broad Advance Led By East, Northeast; Futures Gain
Physical natural gas for Tuesday delivery on average rose a dime Monday, with gains widespread and only a handful of points in the loss column. Particularly strong were East and Northeast points, boosted by high next-day power prices and forecasts calling for Tuesday readings as much as 20 degrees above normal.
CA Weather Firming Rockies Basis as Prices Slump; Futures Slip
Physical natural gas prices for weekend and Monday delivery plunged an average of 16 cents Friday as buyers were reluctant to commit to three-day packages. Nearly all points experienced losses ranging from 10-20 cents with Marcellus points dropping about a half dollar. At the close of futures trading, October had retreated 4.5 cents to $3.530 and November was off 4.9 cents to $3.617. October crude oil surged $2.16 to $110.53 on further aggravation on the geopolitical front.
Seasonal Temps, Soft Power Pressure Cash, Yet Futures Gain
Natural gas prices for Wednesday delivery overall averaged 4 cents lower in Tuesday’s trading. Nearly all points posted modest declines, and at eastern points, soft power pricing gave traders little incentive to make aggressive next-day gas buys.
Farmers’ Almanac Forecasts ‘Days of Shivery’ This Winter
The upcoming winter will be colder than normal for most of the United States, including New England, according to theFarmers’ Almanac, a forecast that would have furnaces working overtime in some of the nation’s largest population centers.
Weak Marcellus Leads Weekend Charge Lower; Futures Falter
Weekend and Monday deliveries of physical natural gas overall on average were 4 cents lower in Friday’s trading for weekend and Monday delivery. Thursday’s screen strength was unable to resonate in the physical market largely as the result of moderating weekend weather forecasts.
WSI: Northeast, West to Remain Warmer than Normal Into Autumn
Warmer-than-normal temperatures are expected to be in place in the Northeast and across the south-central and western areas as well in September, while the Southeast and north-central areas will average cooler than normal, according to forecasters at Weather Services International (WSI).
Cash Run Higher Seen As Limited; Futures Falter
Natural gas cash values pushed higher again Tuesday for Wednesday delivery, with gains in the East recording the largest increases as the return of summer heat after weeks of below-normal temperatures sparked gas demand. After exploring gains in morning trading with a high of $3.500, the September natural gas futures contract retreated in the afternoon to close at $3.444, down 1.9 cents from Monday’s regular session close.