New York: Get ready for a Major Winter Storm

[dan_s]

See forecast: https://www.wunderground.com/forecast/u ... alwx_10day

We are going to see a record draw from U.S. natural gas storage for the week ending 1/5/2018. My SWAG is a draw of 320 Bcf.

This week's storage report for the week ending 12/29/2017 s/b a draw of ~230 Bcf.

When there are sub-zero temperatures in areas were most of the homes heat with natural gas, furnaces run constantly. This can cause a serious problem for the utility companies. With valves wide open, the pressure on the residential gas lines can go too low. Utility companies are required by law to maintain line pressure. Therefore they will pay whatever it takes to keep the lines full. This is why we may see super high spot prices for gas in the Great Lakes Regions and New England this week.

A MAJOR STORM is now likely to reach New England on Thursday.

We may see a TCF drop in U.S. natural gas storage during January. The 5-year average at the end of January is 2,550 Bcf. This year it will be way below that level.