August 3, 2021 – Natural Gas Intelligence
September Natural Gas Rallies as ‘Hottest Weather of Summer’ Seen for Next Week
By: Leticia Gonzales
The spike in projected cooling needs lifted the SoCal Border Avg. by 82.5 cents to an average of $6.985. In the Desert Southwest, El Paso S. Mainline/N. Baja jumped 47.5 cents to $7.410.
RBN Energy LLC analyst Jason Ferguson noted that a pipeline outage in Mexico was pushing back on flows from the United States. This has further constrained the El Paso Natural Gas Pipeline South Mainline.
Elsewhere in the West, the NWS said some areas were set to receive heavy amounts of rain this week given the seasonal monsoon in the region. Over the next couple of days, the focus of the monsoonal rainfall is forecast to gradually shift from the Intermountain/Great Basin region eastward to mainly along the spine of the Rockies as an upper ridge re-establishes over the Desert Southwest. By Wednesday, the monsoonal rain should be confined to the vicinity of the central and southern Rockies, according to NWS.
A handful of Rockies markets started to soften on Monday, but the majority of pricing locations moved up by at least a dime. Cheyenne Hub next-day gas climbed 15.5 cents to $3.7500.
Read the full article here: https://www.naturalgasintel.com/september-natural-gas-rallies-as-hottest-weather-of-summer-seen-for-next-week/
