Since the beginning of July, August forward basis curves around the U.S. Northeast have been accentuating their end of summer contango as markets continue to price in cooler expectations of August weather and a warmer-than-average autumn. According a report published Monday by forecasters at Weather Services International (WSI), average temperatures in the Northeast will be cooler than normal in August, likely dampening air conditioning load across the region (see Daily GPI, July 21).
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Key Northeast Natural Gas Market Points Make Basis Gains Despite Strong Storage Injections
With the July natural gas bidweek over and trading of the August futures contract in full swing, natural gas prices seem to be picking back up — at least at points near major demand centers such Texas Eastern M-3, and Transco Zone 6 NY. All of this is occurring despite the current onslaught of triple-digit gas storage injections.
July 7, 2014
Northeast Natural Gas Prices Slide as Stronger Storage Surprises in NGI’s Forward Look
With the country’s natural gas storage network refilling faster than expected and analysts calling for a mild summer to further tamp down demand for the resource from the power generation sector, Northeast natural gas prices in the forward market have been making their way lower in recent weeks.
June 27, 2014
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