Natural Gas News – January 3, 2025
Natural Gas News – January 3, 2025
US Natural Gas Prices Jump on Cold Snap Forecast
Natural gas and heating oil prices in the United States started the year with a spike as temperatures dropped amid a polar vortex that, according to forecasts, could bring the coldest weather in a decade to northern states. Natural gas prices have gone up by 4% since the start of the week, the Financial Times reported today, adding that heating oil prices have added 5%. At the start of the week, natural gas futures briefly topped $4 per million British thermal units. “The market has been rather complacent as US production was surging and inventories were above normal,” Price Futures Group analyst Phil Flynn told the publication. “But at the same time, the market may have to face a winter challenge that it has not seen in a while.”… https://tinyurl.com/5n7r64jn
European Gas Prices Soar After Russian Gas Flow Stops
The price of the Dutch TTF, the benchmark European natural gas climbed by more than 4% to €51 per megawatt-hour, its highest level since October 2023, before easing a little, on the first trading day after Russian gas stopped flowing to Europe via Ukraine. Freezing temperatures across the north of the region pushed prices up on Thursday morning with a backdrop of losing 5% of the EU’s natural gas import as Russian import stopped entering the European Union via Ukraine on 1 January, after decades of operating, due to a transit deal expiring, raising concerns about faster storage withdrawals. … For more info go to https://tinyurl.com/y8vt2f9w
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