Calm Weather Impacting Gas Price Predictions

mild winter lng - The Chemical Company

Weather conditions across the United States have remained fair and calm for the beginning of 2023. Most environmental reports show that January through February have been at their mildest since 2006. Because of this, there has been a significant reduction in the consumption of natural gas for heating purposes. These factors have caused many natural gas forecasters, such as the U.S. Energy Information Administration (EIA) to abruptly change their predictions for the remainder of winter. However, even with mild conditions, the price of gas remains volatile. The EIA expects close-to-normal weather for the remainder of Q1, though they warn that there is always a possibility for an abrupt change in weather or temperatures before the season is through. An article published by S&P Global further details information given by the EIA and how the rest of Q1 may affect gas prices.

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