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NATGAS tests new local high after temperature forecast revision 💥

5:50 PM 22 May 2024

NATGAS is adding close to 5% today on the back of a weather forecast update, which indicates that we will face significantly warmer-than-expected temperatures in the western US over the next 6-10 days. Such a condition could result in increased demand for gas-fired generation to meet the increased load on the grid caused by air conditioning. 

Source: Bloomberg Financial LP 

The heating season this year started noticeably earlier than it has in the past five years.

Source: Bloomberg Financial LP 

Quotations of NATGAS, D1 interval. Source: xStation

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