Global Gas Analytics Market Insight
Snowstorms boost price volatility in the US northeast15 March 2017
The northeast of the United States is facing its worst March snowstorm since 1993, with heavy snowfall in New England and the country’s Middle Atlantic region. This has boosted regional gas prices and will increase price volatility over the coming weeks as forecasts suggest the cold weather will continue.
The region is being affected by a Nor’easter – a large cyclone – that has forced multiple states to declare an emergency. Weather forecasts suggest a 55% chance of below-average temperatures in New England and the Middle Atlantic area during the next 8-14 days. However, the weather pattern is not expected to affect southern states of the US, such as Louisiana – home to the Henry Hub pricing point. Consequently, Henry Hub futures and spot prices will not feel any significant impact from the Nor’easter.
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