Forecast ‘Still Isn’t Cold Enough’ as NatGas Futures Continue Slide

  • December Nymex futures off 1.6 cents to $2.621; January down 1.4 cents to $2.714
  • “Overall, the pattern remains plenty cold enough through the coming weekend” but not for Nov. 18-25, says NatGasWeather
  • “Aside from weather, production growth remains the elephant in the room”: Energy Aspects
  • U.S. dry gas production down 2.4 Bcf/d d/d on weather, maintenance impacts: Genscape
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Production Overshadows Cold as More Seasonal Pattern Ahead; Natural Gas Futures Plummet

  • December Nymex futures down 15.2 cents to $2.637; January down 14.5 cents to $2.728
  • “The market has made it clear that strong cold needs to stick around to support prices at levels we saw last week,” says Bespoke
  • U.S. Lower 48 production set new record high over weekend: Genscape
  • “With the flip in the weather forecasts, declines between $2.575 and $2.520 should occur in the coming weeks”: Enverus
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Natural Gas Futures Post Small Gain as Market Awaits More Clues on Weather Trends

  • December Nymex futures up 1.7 cents to $2.789; January up 1.4 cents to $2.873
  • “Degree days continue to do yeoman’s work, coming in 29% above normal” for the most recent EIA report week and averaging 19% above normal over the past five weeks: TPH
  • “Colder weather is showing up in a big way, which should bring much tighter weekly storage stats,” says Genscape’s Fell
  • Southern California spot prices slide on mild forecast despite new import constraints
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