COLD FRONT TURNS THE NATURAL GAS MARKET UPWARD
- After reaching a low of below $5.40 on Tuesday, the impending cold front changed the market’s direction, ending the week almost a dollar higher.
- We are getting close to the official start of winter and the highest prices of the season are in January and February. Expect prices to keep rising.
- Another factor will be the impending reopening of the Freeport LNG facility in Texas. This will take an average of 14-18 Bcf out of the supply each week when it reopens.
WEATHER: COLDER TEMPS, HIGHER DEMAND ON THE WAY.
The cold front will cover the U.S. for at least 14 days, increasing heating demand and raising Natural Gas prices.
NATURAL GAS STORAGE REPORT: EIA
Electricity
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