When will NGas in storage go below the 5-year average?
Posted: Tue Dec 31, 2024 9:51 am
Probably by the end of January.
Temperatures are expected to begin dropping from the Rocky Mountains to the East Coast around Thursday, but the real plunge will set in sometime between seven and 14 days from now. < Check out the 10-Day forecast for Chicago. Chicago is the bulls eye for natural gas space heating.
The plunge will bring wind chills across the Midwest dipping below zero, “exceptionally cold” temperatures down to 20 degrees below average in some places, and freezing conditions setting in as far south as the Gulf Coast and even into Florida — though it is still too early to forecast exact temperatures.
Read this: https://nypost.com/2024/12/30/us-news/polar-vortex-headed-for-united-states-will-bring-exceptionally-cold-temps-in-the-new-year-weather-models-are-screaming/?utm_campaign=iphone_nyp&utm_source=mail_app
During the two weeks ending January 17th I now expect more than 600 Bcf to be drained from U.S. natural gas storage. If the 2nd half of January remains below normal in the eastern half of the U.S. we may see the MAR25 contract go over $4.00.
Temperatures are expected to begin dropping from the Rocky Mountains to the East Coast around Thursday, but the real plunge will set in sometime between seven and 14 days from now. < Check out the 10-Day forecast for Chicago. Chicago is the bulls eye for natural gas space heating.
The plunge will bring wind chills across the Midwest dipping below zero, “exceptionally cold” temperatures down to 20 degrees below average in some places, and freezing conditions setting in as far south as the Gulf Coast and even into Florida — though it is still too early to forecast exact temperatures.
Read this: https://nypost.com/2024/12/30/us-news/polar-vortex-headed-for-united-states-will-bring-exceptionally-cold-temps-in-the-new-year-weather-models-are-screaming/?utm_campaign=iphone_nyp&utm_source=mail_app
During the two weeks ending January 17th I now expect more than 600 Bcf to be drained from U.S. natural gas storage. If the 2nd half of January remains below normal in the eastern half of the U.S. we may see the MAR25 contract go over $4.00.