Physical gas spot prices saw mostly increases as below-freezing temperatures swept the Upper Midwest and Northeast. Boston’s Algonquin Citygate jumped $4.78 (72.4%) to $11.38/MMBtu last week. Transco Zone 6 NYC prices have gradually dropped since last report’s increase to $5.25/MMBtu, falling $1.21 (-23%) to $4.04/MMBtu.
In weather news, a firm Alaskan ridge has established itself in the 8-14 day window, driving Arctic air deep into the interior Midwest and resulting in well below normal temperatures across most of the country. While the epicenter of the anomalies are centered around the Great Lakes, major cities along the Atlantic coast, extending into the Southeast and Texas, should experience below normal temperatures.
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