https://weather.com/forecast/national/n ... mpany-noaa
The upper 1/3rd of the U.S. burns the most natural gas for space heating during the winter. BIG DRAWS from storage happen when cold waves move deep into the Southeast where everyone uses gas or propane for space heating.
NOAA's Winter Weather Forecast - Oct 19
NOAA's Winter Weather Forecast - Oct 19
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: NOAA's Winter Weather Forecast - Oct 19
Watch the Saturday Summary here: https://www.weatherbell.com/premium/
The next two weeks definitely look favorable for natural gas demand. Also, the November forecast is starting to look better.
The next two weeks definitely look favorable for natural gas demand. Also, the November forecast is starting to look better.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: NOAA's Winter Weather Forecast - Oct 19
Summary from HFIR Energy dated 10/18/2019
For the week ending 10/11, EIA reported a build of +104 Bcf vs. our build estimate of +114 Bcf. This was much lower than we expected.
For the week ending 10/18, we have a build of 95 Bcf. End of Refill Season forecast is now 3.773 Tcf.
The weather outlook is very bullish, and if it materializes, we see much more upside to natural gas prices.
If this weather model outlook materializes, we see prices going much higher. November contract has the potential to go to $2.55 before expiration, which also would push up December contracts to $2.75/MMBtu.
Read full report here: https://seekingalpha.com/article/429739 ... izes?ifp=0
For the week ending 10/11, EIA reported a build of +104 Bcf vs. our build estimate of +114 Bcf. This was much lower than we expected.
For the week ending 10/18, we have a build of 95 Bcf. End of Refill Season forecast is now 3.773 Tcf.
The weather outlook is very bullish, and if it materializes, we see much more upside to natural gas prices.
If this weather model outlook materializes, we see prices going much higher. November contract has the potential to go to $2.55 before expiration, which also would push up December contracts to $2.75/MMBtu.
Read full report here: https://seekingalpha.com/article/429739 ... izes?ifp=0
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group