Natural Gas Futures Market News and Commentary
Feb Nymex natural gas (NGG21) on Friday closed up +0.071 (+2.66%).
Feb nat-gas prices on Friday shook off early losses and moved higher on a colder U.S. weather forecast. Maxar on Friday said that warmer weather is seen in the South, but below-normal temperatures are seen in the West and Rockies from Jan 20-24. Also, below-normal temperatures are seen for the Northern Tier states and East Coast from Jan 25-29. There is still concern that a polar vortex developing in the Arctic could blanket the U.S. toward the end of this month, which would boost heating demand for nat-gas.
Over the longer-term, expectations for a mild winter overall are still expected to depress nat-gas demand and prices. The Commodity Weather Group on Monday said that the national heating demand for nat-gas is expected to remain "well below" the 30-year average over the next two weeks. Also, Maxar is predicting this winter will be the 13th warmest winter for energy demand going bac... Read more