Blog

Get Market News

Get weekly email updates on market factors like supply, demand, and regulatory affairs. Subscribe now

Request a Quote for Your Business

ENGIE Resources is ready to analyze your historical electricity usage data and present appropriate options. Request now

Become a Broker or Consultant

Complete our Brokers & Consultants Inquiry Form. Learn more

Is there a bull in our future?

November 09, 2017

2017 Winter, 65% Chance for La Nina

According to the latest CFTC Commitment of Traders report, producers, merchants and end users are a bit more bullish this year on natural gas versus last year as we enter the Nov-March winter period.  This class of trader is net long 41% compared to 39% in 2016.  The total net long positions equate to 747 bcf versus 1020 bcf for options and futures combined.*  The move is supported by predictions of a winter that may be colder than last year across the Northern Tier of the US thanks to a 65% chance of La Nina (NOAA).

*Henry Hub Swap. NYMEX  Natural Gas Swap, and Henry Hub Penultimate contracts