Overnight GFS Loses 20 HDDs On Less Cold Into Northern US & Prices Collapse
February 3: While an Arctic front continues impacts the Midwest, Plains, and Texas, nat gas prices collapsed overnight, losing all of the 70 cents gained yesterday. The GFS model lost 20 HDDs overnight on not quite as much cold air into the US Feb 12-17 and prices have been in freefall since. The overnight EC was little changed, which also meant it wasn’t as cold as the GFS overall for the coming 15-days. The weather data held very strong demand through the weekend, a milder break mid and late next week, but still with some colder air returning to the northern US Feb 13-17, just not as cold in the GFS. The weather data has been inconsistent, suggesting there could be big warmer or colder trends midday and ahead of the weekend break.