The talk of town is still Hurricane Delta. Although not on the forefront of our minds here in Canada, the natural gas community can’t seem to get away. Our blog post yesterday summarized it’s potential impacts (click here in case you’ve missed it!). As Delta’s projected arrival this Friday appears on the horizon, the market has been responding in turn.
Volatility and uncertainty were key words earlier this week, but today saw a return to a more stable state. Prices are starting to climb again! A significant volume of natural gas is drilled in the Gulf of Mexico. Suppliers in the region will look to halt production temporarily in the news of an upcoming storm. This effectively reduces the supply available to meet the existing demand, making what is available more valuable.
While the magnitude and duration of impacts arising from Delta aren’t certain at the moment, the market is still looking at higher natural gas prices this winter and beyond. Protect your home or business from price increases by signing up for a fixed-rate natural gas contract with RiteRate. We’ll always work with you to keep your natural gas rates … boringly predictable.
Thanks for dropping by, make sure to tune back-in tomorrow!