US Natgas Futures Take Drubbing

摘要

December US natural gas futures lost its $5 handle with a vengeance on Monday, plunging 27.6￠ to $4.789/MMBtu. The 5-plus drop could be related to revisions to weather forecasts over the weekend that now see warmer conditions for the next two weeks. Most notably, heating degree days for the fi rst week in December fell 6 HDD below the 30-year average. The fall came, however, just as very cold weather is arriving in major East Coast markets. The cash price at the New York citygate jumped $2.50 Monday to $7.30/MMBtu. The Henry Hub, however, fell 14￠ to average $4.77/MMBtu.