Southeast, East Texas spot gas prices soar on early winter temperatures

摘要

Cash prices for Wednesday flows of natural gas in the Southeast and East Texas were trading at new 30-day highs on Tuesday, as nearfreezing temperatures in other parts of the US strengthened spot prices nationally. Cash Henry Hub settled up 16.50 cents at $2.555, which was the location’s highest price since September 20. Prior to Tuesday’s settlement, the location settled in a 30-day range $2.04-$2.39/MMBtu, with Monday’s price of $2.39 settling the last 30-day high. Inflows of gas into the Southeast fell by 774 MMcf (6%) on the day to 12.36 Bcf, driven mostly by a 23% drop in inflows from the Midcontinent. The average temperature in the Midcontinent was forecast at 36 degrees F on Tuesday and expected to fall to 34 degrees F on Wednesday, revving up Midcontinent gas demand for heating by 1.3 Bcf on Tuesday and an additional 900 MMcf on Wednesday.