Watch Saturday Summary here: https://www.weatherbell.com/premium/
> Looks like hurricane season has ended early.
> Lower than normal ACE Index this year's hurricane season, which doesn't fit the Global Warming Narrative, so not being reported.
> Artic Sea Ice is now ABOVE NORMAL, again won't be reported.
> COLD December for Great Lakes Region is now the forecast.
Mother Nature and Old Man Winter are now in control of the natural gas price.
"Bitter Cold" winter in Alberta: https://nationalpost.com/news/canada/la ... y-december
This is important because what happens in Alberta usually moves through the Great Lakes Region, which is the part of the US that uses the most natural gas for space heating.
Rest of October will be mild, but the pattern suggests that real winter weather will arrive before Thanksgiving this year for much of the US. Higher than normal draws from natural gas storage from mid-November to mid-December could send HH gas price over $8.00/MMBtu.
Weather Pattern now looks like a COLD start to winter
Weather Pattern now looks like a COLD start to winter
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Weather Pattern now looks like a COLD start to winter
EIA: "In our October Short-Term Energy Outlook (STEO), we forecast that natural gas spot prices at the U.S. benchmark Henry Hub will average $5.67 per million British thermal units (MMBtu) between October and March, the highest winter price since 2007–2008. The increase in Henry Hub prices in recent months and in our forecast reflect below-average storage levels heading into the winter heating season and strong demand for U.S. liquefied natural gas (LNG), even though we’ve seen relatively slow growth in U.S. natural gas production. We expect Henry Hub prices will decrease after the first quarter of 2022, as production growth outpaces growth in LNG exports, and will average $4.01/MMBtu for the year."
Read more: https://www.eia.gov/todayinenergy/detail.php?id=49956#
Read more: https://www.eia.gov/todayinenergy/detail.php?id=49956#
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group