East Texas, Southeast spot climb with warmer forecast, rising demand

摘要

1. US East Texas and Southeast spot natural gas rose across the board Aug. 9 amid increasing temperature forecasts and demand projections. 2. Henry Hub added 3 cents on the day to trade at $4.16/MMBtu, Transco Zone 4 rose 5 cents on the day to $4.12/MMBtu for next-day flows. 3. The Henry Hub balance-of-the month contract was observed trading at $4.119 MMBtu on the Intercontinental Exchange in a contango market structure. 4. Average temperatures across the Southeast were forecast to increase from 81 degrees Fahrenheit to nearly 85 F by Aug. 12, with an extended heat wave from the Lower Mississippi Valley to the Midwest. The National Weather Service predicted that the heat index in the Southeast would eclipse 90 F Aug. 14-18, boosting demand.