“Weather systems with rain and snow will impact West and north-central U.S. with chilly conditions and lows mostly of teens to 30s,” according to natgasweather.com for the November 6 to November 12 period, FXEmpire reports. “The East Coast will be warm Monday with highs of upper 60s to 80s, but will drop into the upper 40s to lower 60s as a cool front sweeps through mid-week. A rather cold weather system will track across southern Canada and across the upper Midwest and Northeast Friday to Saturday for a surge in heating demand. The southern U.S. will be mild to warm with highs mainly in the 70s and 80s. Overall, demand will be moderate through Thursday, then high Friday through Sunday.”
Market observers are also looking to this week’s storage data due on Thursday, which is anticipated to reveal a build of between 11 and 21 billion cubic feet int he week ended November 3, compared to a 65 bcf build in the preceding week and a five-year average rise of 45 bcf.
According to the U.S. Energy Information Administration, total natgas in storage was 3.775 trillion cubic feet, or 4.5% lower than levels at this time last year and 1.1% below the five-year average for this time of year.
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