Commodity Weather Group stated that “models are in great agreement on the big picture colder trend,” but the group warned that there is still debate about when temperatures will drop.
“Those forecasts are becoming more definitive,” Jim Ritterbusch, president of Ritterbusch & Associates said of expectations for Arctic air to push down from Alaska.
Further supporting natural gas prices, natural gas production has dipped, diminishing supply. PointLogic revealed that U.S. natural gas production fell 1.3% to 78.3 billion cubic feet from December 15 through 21, or down 4.2% from the same period in 2015, reports Gordon Kristopher for Market Realist.
For more information on the natgas market, visit our natural gas category.