GIA contracts strengthen amid subdued production, mixed winter temperatures

摘要

The Platts ICE Gas Indices Americas North America contract averaged $2.52/MMBtu for the last four trade days (Nov. 30- Dec. 3), up 39 cents from the prior week’s average. Much of the gains were driven by the GIA Northeast contract, which saw the highest gains of 46 cents week on week, across all regions, to average $2.05/MMBtu as temperatures have dropped back to normal levels, driving up demand to a little below last year’s level of 27 Bcf/d observed last year during the same period. The gains in the Northeast contract were closely followed by the GIA South contract, which gained 40 cents on the week to average $2.56/MMBtu, as temperatures paced below seasonal norms amid a cold front, which blanketed much of Texas and the Southeast region.