Natural Gas – The Hot Ice of the Market
Yesterday, the American Henry Hub for August delivery dipped near 1%, closing at $2.603 per MMBtu after riding a month‑high surge the day before.
What’s Heating (or Cooling) the Charts?
- Hot U.S. Southwest: The National Weather Service keeps saying temperatures over 100°F (37°C) are on the way – the “warmest” weather for a while.
- Cooler Northeast: Maxar Technologies predicts a break‑in‑the‑rain, with lower temps in the Northeast next week.
- Gas Stocks to Rise: Expect a jump of 47 billion cubic meters in inventories – about 14% above the 5‑year average.
Europe Isn’t Far Behind
Across the ocean, August TTF futures hit a weekly peak at €28.215 per MWh, only to later close 0.39 % lower.
European gains came hand‑in‑hand with a dip in LNG imports – a redirection toward Asian markets that are sizzling hot this season. According to ANZ Bank, southern Europe is seeing temperatures climb, adding a tasty heat‑wave twist to the story.
TL;DR – It’s All About Heat!
Hot weather bounces gas prices up, but cooler forecasts, larger inventories, and shifting LNG flow can turn the tide in a blink. Keep an eye on the numbers, because one day it’s your favorite price, the next it’s a surprise drop.
Want real‑time updates? Subscribe now and get the latest directly to your device.
