Hotter This Week, But First Week of July Mixed

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

Monday, June 24: After a slightly cool start to the week today, temperatures will heat up across much of the country the rest of the week with highs of upper 80s to lower 90s reaching as far north as Chicago and NYC. This will bring a bump in national demand through next weekend. For the first week of July, the GFS model was hotter than the European model all last week. But after the weekend break, the European model is now hotter and the GFS cooler. Prices are several cents higher today, potentially aided by the markets liking seeing the European model adding some demand since last week. Where the two major models differ is the first couple days of July where the GFS favors a bit more cooling over Texas and the Northeast compared to the European model. Although, both aren’t quite hot enough July 4-8 seeing better opportunity for showers and cooling across the South and East. It’s a better pattern, but not solidly bullish since coming builds still will struggle to print meaningfully smaller than normal. Prices could also be higher today with the coming expiration of July’19 options and futures contracts the next few days.
 

After a slightly cooler vs norml start to the week today with light national demand, temperatures will heat up the rest of the week.

 

Highs of upper 80s to lower 90s gain over much of the country this week besides the Northwest & N. Plains. This will bring a notable bump in national demand.

 

Notable differences show up during the first week of July as the European model remains rather hot but the GFS sees stronger cooling across Texas and the Northeast.

Leave a Comment