Natural Gas News – January 15, 2019
Natural Gas News – January 15, 2019
Natural Gas Prices Spike 13 Percent on Forecasts for Long, Severe Cold
CNBC reported: Natural gas prices spiked on Monday as the market gained confidence that the severe cold gripping the United States will persist longer than previously thought, driving up heating demand and taxing gas stockpiles. Front-month Henry Hub natural gas futures for February rose more than 13 percent on Monday. The contract hit a session peak at $3.539 per million British thermal units, its highest level since Dec. 27. The contract was last up 12.7 percent at $3.493 per mmBtu. Updated forecasts show below-average temperatures persisting over the next two weeks, with the cold snap drifting eastward from the Midwest toward the East Coast. Traders were anticipating the cold would linger, but weather models available last week didn’t give them the confidence to take long positions in natural gas futures heading into the weekend, according to Jacob Meisel, chief weather analyst at Bespoke Weather Services. For more on this story visit cnbc.com or click https://cnb.cx/2stClwM
Report Examines Natural Gas Power Plant Variables
Daily Energy Insider reported: The Environmental Protection Agency’s (EPA) continuous emissions monitoring system (CEMS) recently reported that natural gas power plant operations in New England and New York vary in certain situations, such as cold weather. The assessment determined weather plays a significant role in electricity and natural gas demand. During times when natural gas supply is constrained, particularly during the winter, some plants are forced to reduce their output, or shut down entirely, as individual fuel sources become unavailable. Power plants possessing dual-fuel capability can switch between fuels in specific situations. Dual-fuel capability of natural gas-fired generators in the New England and New York regions has proven critically important for maintaining grid reliability, particularly during cold weather events that create increased demand for both natural gas and electricity For more on this story visit dailyenergyinsider.com or click https://bit.ly/2DbKCLY
This article is part of Daily Natural Gas Newsletter
Tagged:
MARKET CONDITION REPORT - DISCLAIMER
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.
