Natgas Soars As “Big Shot Of Cold Air” Expected By Weekend 

U.S. natural gas prices jumped Tuesday after weather forecasters pointed to colder weather expected to drive up heating demand through mid-April. 

Meteorologists at private weather forecaster BAMWX said a “big shot of cold air” is expected to arrive in the eastern half of the U.S. “later this week into this weekend, leading to well below normal temperatures.” 

Natgas futures for May delivery were up 7.5% to $6.14/MMBtu on the news. 

There are freeze risks for farmers who just planted across the Midwest between Friday and Sunday. BAMWX also believes “freeze risks remain at play from the northern Plains, Midwest to Ohio Valley over the next 10-20 days.” 

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BAMWX expects “conditions start to warm up early next week.” However, they expect by the end of week two, “a period of colder air to have the potential to be more potent due to a snapback of the Pacific Jet and the colder MJO risks. Data has generally been trending colder over the past few runs with this signal.” 

Hopefully, this will be the last shot of cooler air as Midwest plantings begin.