Prices across Northeast US decline in advance of warming temperatures
Published by Sara Simper,
Editorial Assistant
World Pipelines,
At the Algonquin Citygate, which serves Boston-area consumers, the price decreased 60 cents from US$4.61/million Btu last Wednesday to US$4.01/million Btu on 16 March. A sign that the heating season in New England is coming to an end, the Algonquin Citygate traded 66 cents below the Henry Hub price on 16 March, compared with 19 January 2022, when it traded US$17.95 above the Henry Hub.
Temperatures in the Boston area fluctuated widely this week, ranging from a daily low of 22 °F (-6 °C) on Sunday to a daily high of 59 °F (15 °C) on Tuesday, and are forecast to be warmer than normal heading into the weekend. Natural gas demand in New England was down about 0.2 billion ft3/d (5%) to an average of 3.0 billion ft3/d this week, according to data from PointLogic. At the Transcontinental Pipeline Zone 6 trading point for New York City, the price decreased 37 cents from US$4.25/million Btu last Wednesday to US$3.88/million Btu on 16 March. Natural gas demand in the New York and New Jersey area declined about 0.2 billion ft3/d (2%) to 9.8 billion ft3/d.
Read the article online at: https://www.worldpipelines.com/business-news/18032022/prices-across-northeast-us-decline-in-advance-of-warming-temperatures/
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