(Bloomberg) — U.S. natural gas futures climbed the most in a month on winter weather forecasts that signal higher demand for the heating fuel in Chicago and other major population centers.
Futures for January delivery rose 4.9% to $3.912 per million British thermal units at 9:36 a.m. on the New York Mercantile Exchange. Contract earlier rose as much as 6.7% for the biggest intraday gain since Nov. 26.
- Below-normal temperatures West and North Central Jan. 1-5: Atmospheric G2
- Below-normal temperatures in North Central region extend through Jan. 10
- Latest figures from BNEF:
- Lower 48 dry gas production ~97.3 bcf, or +5.7% y/y
- Lower 48 total gas demand ~84.5 bcf, or -4.8% y/y
- Dry gas exports to Mexico ~5.8 bcf, or -7.0% w/w
- Estimated gas flows to LNG export terminals ~12.6 bcf, or -2.2% w/w
Weather:
- See WHUT for a map of latest 6-10 day weather forecast: NOAA
- See WFOR for temperature forecasts, click Browse, then Energy Market Regions then US Lower 48 and then Update
Gas Market News:
- European Gas, Power Extend Slump as LNG Supplies Promise Relief
- Natural Gas Deliveries to U.S. LNG Export Terminals: BNEF
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