Midwest gas drops with cooler temperatures

摘要

1. US Midcontinent natural gas spot prices declined June 21 as demand is anticipated to fall week on week with cooler temperatures, while storage injections are expected to rise. 2. The cash price for MichCon city-gate dropped about 8 cents on the day to $2.99/MMBtu, while Natural Gas Pipeline-Midcon Pool fell 7 cents to $2.94/MMBtu for next-day flows. 1. Temperatures in the Upper Midwest began cooling this week and are expected to average 68.4 degrees Fahrenheit, which is 5.3 degrees lower than a week earlier, according to S&P Global Platts Analytics. 2. In response, power demand is forecast to fall to 2.4 Bcf/d during the week, down 485 MMcf from the week prior, Platts Analytics recorded.