The weather piece in the energy price puzzle continues to point to a bearish scenario for the remainder of the summer in the US. July temperatures were normal to below normal in all major demand regions including Houston, Chicago and New York. The Weather Trends International outlook for August further supports the continuation of this pattern of cooler temperatures over much of the country. There is still plenty of time left in hurricane season to cause some disruptions, but the season has been extremely quiet so far, and plentiful gas supplies combined with the lower prospect of extreme weather should support the fundamentally bearish picture in natural gas markets. The current satellite image of the Atlantic Basin is not showing anything threatening at the moment.

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This entry was posted on Monday, July 30th, 2007 at 9:49 am and is filed under Energy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.