Natural Gas News – December 2, 2024
Natural Gas News – December 2, 2024
Mansfield Market Assessment
The Weather models warmed up the 6-10 thru the 11-15 forecasts for most of the US. One thing to keep in mind here is that some models are showing a cold build up in Calgary in the back half of the 11-15. This could possibly make the West colder and could even move East if the right tele-connects are set up correctly. What we know in front of us is that the much anticipated warm up is showing up in the models and Natty is off .20 cents down to 3.165. Cash at Henry Hub is trading 3 dollars with the Southeast very cold. Going to be lots of Volatility going forward with the model swings possibly back to colder toward the end of the month. Feels like 3 dollars is the floor right now unless the models continue with the warmer pattern. Current out look is Neutral to slightly bearish until more information is displayed.
U.S. Enters Winter With The Most Natural Gas Since 2016
Working natural gas in storage in the Lower 48 states ended the natural gas injection season with 3,922 billion cubic feet (Bcf), according to estimates based on data from our Weekly Natural Gas Storage Report released on November 7. U.S. inventories are starting winter 2024–25 with the most natural gas since 2016. Inventories are currently 6% above the five-year (2019–23) average, despite less-than-average injections into storage throughout the entire injection season, which runs April 1 through October 31. Less natural gas than the five-year average was injected in nearly every week during the 2024 injection season, in part because starting inventories were relatively full.… For more info go to https://tinyurl.com/d4pr73ye
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