Longs stick to mid-$3 pricing, dismissing talk that the current winter could be as warm as the last oneIt’s Halloween week and all of the United States should be shuddering from both the spookfest and the weather.
“EIA will delay its scheduled data releases November 8-10, 2023, to complete a planned systems upgrade. A few mentioned they’d reorganize their crypto portfolio that day. One noted a “day trip to nirvana” (still waiting for a clarification) and others said simply reworking pipe and flow models “that have otherwise failed me this season … ”“We were told, however, by insiders, that the wait will be worth it”.
Even the most avowed gas bear would think twice about betting on a repeat of the 2022-23 warm cycle, much like the adage that lightning never strikes the same place twice.Even so, this week’s abrupt balming of temperatures remains a source of concern to some. According to a NatGasWeather reading carried by industry portal naturalgasintel.com, the cold is expected to ease and by the weekend, much of the country should be enjoying warmer weather. headtopics.com
The shift in trading came as weather forecasts shaved some demand expectations with the winter’s first decent cold shot across the Lower 48 US states set to ease by the weekend. A mix of morning frost and freezing cold would persist across the South, Northeast, and much of the Midwest early Thursday, AccuWeather senior meteorologist Bill Deger said.
“Although near-term momentum could extend, the December natural gas contract may be unable to sustain current levels absent a renewed cold push,” he said. Meanwhile, LNG feed gas volumes remain strong, ticking up to around 14.5 dekatherm per day, or dth/d, for Wednesday, above the seven-day average of around 13.9 dth/d, according to naturalgasintel’s own LNG Export Tracker. headtopics.com
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