Natural Gas Prices SPIKE HIGH as "Historic Cold" forecast by Weatherman

[Melensdad]

Get ready for old man winter to return to North America.

NatGas Futures Spike Ahead Of Forecasted "Historic Cold" | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

NatGas Futures Spike Ahead Of Forecasted "Historic Cold"​

US natural gas futures surged Monday morning as weather models continued to show a significant cold blast set to sweep across the Lower 48 in the coming days. The arctic air mass is expected to linger for weeks in the eastern half of the US, with increasing chances of wintery precipitation in some parts of the US. Traders appear to be responding to updated heating degree day forecasts, signaling a massive spike in heating demand over the next few weeks.



In early Monday trading, NatGas futures for February delivery surged as much as 12.3% to $3.80 per million British thermal units (MMBtu). Technicians note that prices have broken through the critical $3 resistance level this heating season after a multi-year bottom following the spike to nearly $10 in mid-2022.



On Friday, private weather forecaster BAMWX told clients "all systems go" for an Arctic blast, or "polar vortex," to pour into the eastern half of the US during the second week of January or by mid-month.

By Sunday, BAMWX meteorologists noted, "Now we're starting to think about historic cold."

"It's an intense level of cold in the heart of Winter," BAMX said.

BAMWX meteorologist outlines what's ahead:

• Cold arrives Jan 1
• Extreme cold comes w/storm ~7th
• Dangerous cold 8-12th
• Bigger storm mid month
• Pattern changes late Jan

Old Man Winter is inbound.

 

[pixie]

Must be written by someone from Florida or So.Cal

Someone should tell the weather people:

 

[tommu56]

when will I see it in my royalties??
They have been in the shitter for the last 4 years.

 

[bczoom]

when will I see it in my royalties??
They have been in the shitter for the last 4 years.

Don't know if you will see it. IIRC, wells produce strong at the get-go but diminish after a few years, thus your royalties go down too.

The maps show warmer temps across a large portion of the nation. Where is this "historic cold"? They're just gambling on "futures" which may not come to fruition.

 

[tommu56]

Don't know if you will see it. IIRC, wells produce strong at the get-go but diminish after a few years, thus your royalties go down too.

The maps show warmer temps across a large portion of the nation. Where is this "historic cold"? They're just gambling on "futures" which may not come to fruition.

nope the well's are being held in because of the glut on the market and not enough pipe lines to ship it
after talking to the well operators the ran them wide open for a year and then throttled them back to where we are today.
their trying to get a pipe line to northeast from Pa but the republic of new york wont let them put pipes through.
and pipes are full to baltimore to put on ships to ship to boston to be off loaded.

 

[snowstorm]

Same bullshit different day. Here’s the futures on gasoline, and home heating oil, propane natural gas. Winter comes every year and there will be home heating demand. The price of gasoline will rise every year the week before memorial weekend, the Fourth of July, and Labor Day weekend. Next winter will be cold and people will need to heat their houses. The year after that winter will be cold and people will need to heat their houses…Corporate America will continue to take advantage of demand in the market based on these events. Oops the secrets out.