Weekly natural gas prices Last summer heat wave – natural gas intelligence

Weekly prices have risen between the high 48 and the high demand for cooling.

NGI Weekly Spot Gas National Average. For August 23-27, 29.5 cents jumped to 4.105 / MMBtu.

In most parts of the country and in the east in the 90’s, conditions were ripe for most of the week 48 to use strong air conditioners. Three-digit fluctuations in the Southwest and California deserts further raised prices.

Las Vegas, Phoenix and Palm Springs, California, all had their daytime temperatures up to 100 degrees Fahrenheit.

Bespoke Weather Services is expected to record a record high this year in terms of the number of gas days a week. This is one of the hottest seasons of the past five summers.

At the end of the trading week, SoCal Citygate rose 97.5 cents to $ 6,135, while SoCal Border Avg. He added 62.5 cents to $ 5,220 and El Paso S Main Line / N. Baja rose from $ 1,180 to $ 6,250 to lead the overall growth.

Meanwhile, strong winds are expected to affect the Gulf of Mexico (GOM) production due to strong summer demand, anemia, and Nmex’s futures contract was delayed in September. Fixed to 4.370 / MMBtu to end trading week on Friday, up 13% from last week. Closing the week, September rolled off the board.

Forecasters expect cold weather next week. “High pressure is weakening in most of the United States, with comfortable temperatures in the 70s and 80s,” said Nightgas Wire.

Friday’s hurricane is expected to intensify in the Caribbean over the weekend. It is predicted that natural gas demand will be curtailed on the North American Gulf Coast.

Looking at the second week of September because of poor weather conditions, he said: “Northern and eastern United States will fall from the 60s to the 80s and will be in need of light.” However, he said, “South America, which has a three-digit altitude, is very hot.”

The future fly

With the future declining in demand on the horizon, the future looks set for the beginning of the week as prices strengthen.

However, the Energy Information Administration (IAA) reported that the fastest month of the month was Thursday, after reporting that the 29 BCF storage injection had expired on August 20.

The EIA’s performance is slightly lower than previously expected, raising new potential threats to light ahead of the high demand for winter.

Prior to the warehouse report, analysts expected construction in the top 30 to 40 Bcf, major surveys found. NGI estimates 37 BCF increase. A year ago, utilities put 45 BCF in underground storage, and the average five-year construction was 44 BC.

It was easy to generate wind during the week that covered the need for more natural gas for strong cooling needs. The small increase last week saw a relatively easy build-up trend during the hot summer months.

As of August 20, the total production of gas was 2,851 BCF-563 BCF below the previous level and 189 BCM below the five-year average, the EIA said.

Those markets are concerned about adequate storage levels and will push up prices.

The EBW Analysis Team said: “The combination of low storage orientation, narrow climatic conditions – the basics and the ability to convert mostly depleted gas into coal indicates a disproportionate view of natural gas.” The current storage direction provides “a small error area” if winter forecasts are cold.

The storm is expected to reach a two-and-a-half-year high on Friday, as the storm worsens and the chances of prolonged production disruptions increase.

By noon on Friday, about 49% of the natural gas produced in the GOM had been taken offline, operators told the Department of Homeland Security’s Office of Safety and Environmental Protection.

The National Hurricane Center (NCA) estimates that it will land on the northern coast of the Gulf on Friday. Ida is expected to make a major hurricane this weekend as she moves through southeastern and central Mexico Gulf, and before Ida reaches the Gulf Coast.

On Friday, September, the contract rose another 18.6. Coin day / day.

“If Ida continues in its current direction, it will plow in the middle of production in the Gulf,” EBC analysts said Friday, limiting supply and approving future pressure.

Friday Cash

Spot gas prices also hovered in the lower 48 on Friday. NGI spot gas national average. 12.5 cents to $ 4,285.

Daytime temperatures are expected to last through the 90s and 100s over the weekend, but the hot plateau is steamed. With the help of Ida, it is expected to weaken the coldest altitudes in most parts of the country in the 70’s and 80’s.

Wood McKenzie said Friday that several pipelines are posting hurricane-related advertisements. Deston Pipeline Company L.C. By Friday, the main passage 260 platform will be released and the Pascagola processing plant in Mississippi is expected to close. Then transportation services are not available. As a result, the LCC has warned customers that it will not be able to transport gas through its connection to the station.

On the price front, Henry Hub’s gas prices rose to an average of 4,340 by 29.5 cents for gas supply by Monday. Texas cash also strengthened, the largest increase in the western part of the state. Waha jumped from 25.0 cents to $ 4,100.

In the southeast, Transco Zone 5, the three-day gas price rose from 35.0 cents to $ 4,550.

Profits in Apalchia were small, but the 4,200 L 15.5 cents rose to $ 3,965. Most of the northeast points were lost due to the cold weather on the way to the region. Transco Zone 6 NY cash decreased from 16.0 cents to $ 3,830 by Monday.

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