October 29, 2024
October 29 – It was a rough start to the week for natural gas futures. Prices cratered, dropping over 10% on Monday. The culprits? Strong production numbers and some pretty unfavorable weather forecasts. It looks like winter is taking its sweet time to arrive, and that’s putting a damper on demand.
But it’s not just natural gas feeling the heat—or lack thereof. Power prices for Cal 25 took a tumble as well. With the delayed start to winter, the market’s reacting to the prospect of lower heating needs in the near term.
