Natural Gas Futures Fall Flat

Natural Gas Futures Fall Flat

Natural gas futures in New York fell to a 27-month low for a second straight day after the EIA’s report showed a smaller-than-average decline in U.S. stockpiles and on warmer weather expected ahead.

Natural gas for January delivery fell 0.9 cent to $3.127 per million British thermal units on the New York Mercantile Exchange the lowest settlement price since Sept. 11, 2009. The futures have declined 29 percent this year.

The EIA reported that 102 BCF of gas was withdrawn from storage last week, compared to the market expectation of a 94 BCF withdrawal. Total storage now stands at 3.729 TCF, 5% above the same time last year.

Most weather forecasts point to warmer-than-normal temperatures for both the 6-to-10 day outlook and the 11-to-15 outlook over much of the northern half of the country and the eastern seaboard.

“It’s winter and we’re not seeing winter-like temperatures,” said Tom Saal, senior vice president of energy trading at INTL Hencorp Futures in Miami. “We just haven’t seen anything like that on a sustained basis.”

Forecasts may vary, but your business’ electricity rate doesn’t have to. When it comes to buying electricity, timing is everything. At Live Energy, we keep our finger on the market’s pulse—locking in a low rate with the right electricity provider has never been easier. For more information on how we can help you find the right electricity plan for your business, contact us at (877) 810-7770 today.



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