Louisiana Light • 2 days | 73.02 | -0.64 | -0.87% | |||
Bonny Light • 31 days | 78.62 | -2.30 | -2.84% | |||
Opec Basket • 2 days | 73.65 | +0.08 | +0.11% | |||
Mars US • 321 days | 75.54 | -1.36 | -1.77% | |||
Gasoline • 13 mins | 2.049 | -0.011 | -0.52% |
Bonny Light • 31 days | 78.62 | -2.30 | -2.84% | |||
Girassol • 31 days | 79.56 | -1.80 | -2.21% | |||
Opec Basket • 2 days | 73.65 | +0.08 | +0.11% |
Peace Sour • 12 hours | 66.88 | -0.08 | -0.12% | |||
Light Sour Blend • 12 hours | 66.13 | -0.08 | -0.12% | |||
Syncrude Sweet Premium • 12 hours | 70.88 | -0.08 | -0.11% | |||
Central Alberta • 12 hours | 67.88 | -0.08 | -0.12% |
Eagle Ford • 2 days | 67.39 | -0.28 | -0.41% | |||
Oklahoma Sweet • 2 days | 67.50 | -0.25 | -0.37% | |||
Kansas Common • 3 days | 58.02 | +1.10 | +1.93% | |||
Buena Vista • 3 days | 77.67 | +1.10 | +1.44% |
Wall Street analysts at Citi…
Turkmenistan's aspirations to export natural…
ZeroHedge
The leading economics blog online covering financial issues, geopolitics and trading.
As soon as Goldman Sachs gets bullish on natural gas, new weather models are forecasting warmer weather trends for the next two weeks. As a result, NYMEX Henry Hub natgas February futures have plunged 5% Tuesday morning.
The plunge in natgas futures come on milder forecasts for the US, which means heating demand will wane over the next two weeks than previously expected.
"That decline came even though liquefied natural gas (LNG) exports remained near record levels and last week's storage draw was slightly bigger than expected," said Investing.com's Ajay Kedia.
Kedia said, "US natural gas production and demand will drop in 2021 as the economic fallout from coronavirus lockdowns continues."
Meteorologists at BAMWX expanded more on the new weather models that forecast warmer weather trends for the US through the end of the month.
They tweeted, "A look at what natgas was expecting FRI for week 2 vs the latest data rolled into the 5-12 day period. EPS lost 17 HDDs in that period GEFS lost 11.3 HDDs in that period BAM had to lower HDDs 3 points in that period (our FRI week 2 shown)."
From the Southwest to Mid-Atlantic, temps will be slightly above average through the end of the month.
ADVERTISEMENT
By Zerohedge.com
More Top Reads From Oilprice.com:
The leading economics blog online covering financial issues, geopolitics and trading.
The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction.
Trading and investing carries a high risk of losing money rapidly due to leverage. Individuals should consider whether they can afford the risks associated to trading.
74-89% of retail investor accounts lose money. Any trading and execution of orders mentioned on this website is carried out by and through OPCMarkets.
Merchant of Record: A Media Solutions trading as Oilprice.com