Donald Trump has won the American Presidential election. This change in administration will surely have economic impacts far and wide, undoubtably reaching the Canadian natural gas market. Again, keep an eye on the CAD/USD foreign exchange in the coming weeks and months to see how our currency reacts to any tariffs or other policy, and to anticipate any changes to the basis between NYMEX and Ontario delivery points.
The NYMEX December front month contract did not have a strong reaction to this news; in fact, today was an inside day. Prices drifted up 8 cents to $2.75 USD/mm. Chart from Trading View:
Hurricane Rafael is headed towards the coast of Texas and Louisiana, where there is a lot of key natural gas infrastructure. However, by the time it arrives on Monday, Rafael will likely have dissipated into a tropical storm, probably limiting the impact to the area. Stay tuned.
