February natural gas is expected to open 15 cents higher Monday morning at $3.15 as traders factor in bone-rattling cold across key energy markets. Overnight oil markets plunged.
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After nearly two decades of mastering turbulent markets for natural gas and liquid byproducts, a Calgary fixture of energy services is making a fresh start in the New Year on taking a leading role in the next generation of Canadian supplies.
As an outgrowth of severe natural gas price spikes a year ago, FERC at year-end approved a proposed tariff solution for California’s electric grid operator allowing for start-up and minimum load cost recovery for gas-fired generation plants that sometimes can be caught in weather-related gas price spikes.
Physical gas for weekend and Monday delivery was largely mixed in Friday’s trading as strength at New England, Gulf and Midcontinent locations was able to outmuscle weakness in the Marcellus and Rockies. The overall market gain was 10 cents.
February natural gas is expected to open 7 cents higher Friday morning at $2.96 as near-term weather forecasts turn supportive and traders await better selling opportunities. Overnight oil markets continued lower.
February natural gas is set to open 5 cents lower Wednesday morning at $3.04 as traders focus on a government inventory report that is expected to show sharply reduced gas usage. Overnight oil markets continued to tumble.
Both physical and futures prices had the trajectory of a safe falling from a 10-story building in Wednesday’s pre-holiday trading.