• 3 minutes Looming European Gas Crisis in Winter and North African Factor - a must read by Cyril Widdershoven
  • 7 minutes "Biden Targets Another US Pipeline For Shutdown After 'Begging' Saudis For More Oil" - Zero Hedge Monday Nov 8th
  • 12 minutes "UN-Backed Banker Alliance Announces “Green” Plan to Transform the Global Financial System" by Whitney Webb
  • 2 days Microbes can provide sustainable hydrocarbons for the petrochemical industry
  • 12 hours Hunter Biden Helped China Gain Control of Cobalt Mines in Africa
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 mins Building A $2 Billion Subsea Solar Power Cable From Chile To China
  • 24 hours CO2 Electrolysis to CO (Carbon Monoxide) and then to Graphite
  • 1 day NordStream2
  • 5 days Is anything ever sold at break-even ? There is a 100% markup on lipstick but Kuwait can't break-even.
  • 5 days Modest drop in oil price: SPRs vs US crude inventory build
  • 1 day "Gold Set To Soar As Inflation Fears Mount" by Alex Kimani
  • 6 days Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 6 days 2019 - Attack on Saudi Oil Facilities.

Natural Gas Prices Jump On Cold Weather Forecast

Natgas February Nymex contracts jumped 3.5% Monday morning due to colder weather trends and increased heating demand forecasted for the next ten days. 

Bespoke Weather Services said since last week, weather models have shifted "materially colder" for parts of the US through mid-January. 

"While the 15-day period as a whole remains solidly warmer than normal, we have chipped away at a good deal of the warmth, and it is important, in our view, to note that the colder changes are focused over the next eight to 10 days," Bespoke said. "This signals risk that models toward mid-month and beyond could again be too warm."

US Temapture deviations through mid-month show large swaths of the country, at times, will record colder than average temperatures. 

Colder temperatures will increase energy demand to heat a structure, shown in the chart below: 

With colder weather ahead, Refinitiv data estimates natgas demand, including exports, would rise from 121.1 billion cubic feet per day this week to 126.1 billion cubic feet per day next week.

By Zerohedge.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News