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Spot gas prices in the US Northeast and Appalachia were at or below $1 per MMBtu, with some hubs near multiyear lows. Mild weather, seasonal pipeline maintenance at Cove Point, and storage near capacity are weighing on regional demand and prices.
Weak regional gas demand and full storage point to continued low energy input costs for US processors in the near term, with limited upside for gas-based costs.
spglobal.comJ. Robinson, Kelsey HallahanOct 2, 2020After 104 past bearish weather events, NATGAS moved a median -7.8% over 5 sessions (22% higher; middle half -14.8% to -0.8%), and -3.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
