Hurricane Helene landed in Florida near Tallahassee as a Category 4 Hurricane. The damage and destruction will be terrible and I want to acknowledge that fact.
This storm will progress over Georgia, Tennessee and Kentucky. It will bring cooling rain to the area, however we are in Autumn and the Cooling Demand Days are projected to be 97 over the next 2 weeks. Last month, that number was 240. At the beginning of the month, the Heating Demand Days were in the single digits but today are projected to be 51 over the next two weeks. Slowly, heating will become the predominant factor in natural gas prices.
The message here, besides the sympathy for those impacted by Helene, is that we need to keep an eye on potential storms in the Gulf of Mexico because they can impact the natural gas market. [WFG]