Dangerous Polar Blast Next Week

Written by on January 24, 2019 in NatGasWeather - No comments

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Thursday, January 24:  A brief break will follow early next week ahead of what’s expected to be the strongest polar blast in the series Jan 29-Feb 3, one that continues to trend further colder with record low temperatures expected as lows drop into the -20s and -30s within the core of the cold air. This is a dangerously cold system with impressive HDD’s/demand, aided by freezeoffs likely to drop production by at least 2-3 Bcf/d. Cold with this system is expected linger across the northeastern US 1-2 days longer than what the data advertised early in the week. The result is all the HDD’s lost last weekend for the Jan 29-Feb 3 period have been more than gained back, yet prices remain more than 40¢ lower than where they closed last week. But the nat gas markets still aren’t going to like the Feb 4-7th pattern as much of the country experiences milder to more seasonal conditions. With that said, the overnight European model was a little colder over this period across the northern and west-central US, which the markets are seemingly liking with overnight prices rallying 5¢ as it was released.

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