“Bitter cold wind chills continue across the Northern Plains, Great Lakes, Northeast, New England and Mid-Atlantic,” NWS said in an update on its website. “Freezing temperatures reach all the way to southern Texas and central Florida. The cold air will begin to moderate early this week. Heavy Lake Effect snow continues downwind of the Great Lakes.”
Furthermore, the cold spell is also disrupting normal supply, which may further support pricing pressure. Flows of natgas on interstate pipelines out of North Dakota fell about 1 billion cubic feet per day Tuesday, compared to about 1.3 bcf per day on December 25, Reuters reports.
“That drop is due to the freeze off we’re seeing,” Andrew Bradford of BTU Analytics, an energy consultancy, told Reuters.
For more information on the natgas market, visit our natural gas category.