Henry Hub ticks higher on winter weather forecast
The US benchmark for the price of natural gas was edging higher early in the December 27 session on forecasts of severe winter weather for parts of the continent.
Trading in the January contract, Henry Hub, the US benchmark, was up 1.6% as of 12:28 GMT to trade at $3.69/mn Btu. The contract moves into February on December 29.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
Moderate winter weather so far for much of the country has kept the price of natural gas under the $4/mn Btu mark for most of the month. Winter weather may have finally arrived, however.
The National Weather Service is forecasting as much as 3 feet (91 cm) of snow for higher elevations in and around the Sierra Nevada mountain range. Further east and a dangerous mix of snow and ice is impacting the morning commute in the upper Midwest and Mid-Atlantic states. Part of Minnesota, meanwhile, can expect up to 6 inches (15 cm) of fresh snow.
In terms of temperatures, it might not get above zero degrees Fahrenheit (minus 17 Celsius) for Montana and North Dakota. With strong winds in store for the region, wind chills could get as low as minus 50 degrees (minus 45°C).