Bespoke analysts argued that “a ‘perfect storm’ of bullish fundamental factors between intense short-term heat, long-range cold risks for early October, tighter burns, lower production, nuke outages” and a flat October/November spread, Natural Gas Intelligence reports.
Overnight data showed further cool trends for the Sept. 27-Oct. 2 period, with a “stronger cold shot push across the Canadian border and into the northern and central U.S.,” the NatGasWeather told the Natural Gas Intelligence.
For the short-term outlook, remnants from hurricane Florence will likely sustain high temperatures.
“In the storm’s wake, very warm high pressure will continue expanding to dominate most of the country, hottest across the southern U.S. where highs will reach the upper 80s to mid 90s,” NatGasWeather said. “It will also be warmer than normal over most of the northern U.S., but for this time of year it means relatively light demand as highs reach the 70s and 80s.”
For more information on the natgas market, visit our natural gas category.
