Natural Gas Prices Increase with Cold Weather Returning to the Great Lakes and Northeast Region of the United States
Natural Gas Prices Increase with Cold Weather Returning to the Great Lakes and Northeast Region of the United States. In
Natural Gas Prices Increase with Cold Weather Returning to the Great Lakes and Northeast Region of the United States. In
In my Feb 15th Energy Update I said, NOAA’s was forecasting warmer than normal weather thru Feb 23rd.
And the warmer than normal weather in February caused Natural Gas to pull back from recent highs.
In my Feb 15th Energy Update, I said the risk factors discussed in previous reports were still in place and risk averse hedgers should consider the recent pullback an excellent hedging opportunity.
Since my Feb 15th Energy Update, colder than normal weather has returned to the Great Lakes and Northeast region of the United States:
The coldest weather will be affecting the areas of the country using the most Natural Gas, and supplies are expected to decline to more than 20% below the 5-year average over the next few weeks.
This fact in conjunction with Russia likely invading the Ukraine has further increased the risk Natural Gas and Electricity prices will move higher from present levels.
Therefore, if you have not already hedged your cost of Natural Gas and Electricity, I believe it would be wise to do so before prices go any higher.
Not every client’s risk tolerance and hedging strategy is the same, but the above report will help you put into perspective the risk/reward opportunities. I invite you to call one of our energy analysts to help you plan a hedging strategy appropriate for your situation.
Ray Franklin
Energy Professionals
Senior Commodity Analyst
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