Northeast cash gas prices rangebound with increased Canadian netflows

摘要

1.1 trading as total demand was expected to fall only slightly but was balanced out by increased Canadian netflows in addition to slightly lower gas production. 1.2Algonquin city-gates increased half a cent to settle at $2.14/MMBtu for next-day flows, while Iroquois Zone 2 rose 3 cents to settle at $2.42/MMBtu. 2.1Total Northeast gas production was down roughly 400 MMcf/d to 33 Bcf/d which may be providing some support to supply/demand fundamentals as total demand was expected to drop 400 MMcf/d to 18 Bcf/d March 24. 2.2Temperatures in the Northeast region are expected to keep rising throughout the week, which may bring some downward pressure on gas prices in the next few days.