Friday, July 11, 2014

Natural Gas: A Poor Man's Polar Vortex

This is not helping the bullish argument.
Front futures $4.152 up 3.2 cents after trading as low as $4.116.
From the Washington Post's Capitol Weather Gang:

Poor man’s polar vortex to make shocking summer return in eastern U.S. next week
Call it the ghost of the polar vortex, the polar vortex sequel, or the polar vortex’s revenge. Meteorological purists may tell you it’s not a polar vortex at all. However you choose to refer to the looming weather pattern, unseasonably chilly air is headed for parts of the northern and northeastern U.S at the height of summer early next week.
(WeatherBell.com, adapted by CWG)
Click to enlarge. (WeatherBell.com, adapted by CWG)
Bearing a haunting resemblance to January’s brutally cold weather pattern, a deep pool of cool air from the Gulf of Alaska will plunge into the Great Lakes early next week and then ooze towards the East Coast.
6-10 day outlook from National Weather Service Climate Prediction Center
6-10 day temperature outlook from National Weather Service Climate Prediction Center
Of course, this is July, not January, so temperatures forecast to be roughly 10 to as much as 30 degrees below average won’t have quite the same effect.
Temperature anomalies (or difference from normal) Tuesday midday from European model (WeatherBell.com)
Temperature anomalies (or difference from normal) Tuesday midday from European model
But make no mistake, in parts of the Great Lakes and Upper Midwest getting dealt the chilliest air, hoodies and jeans will be required. Highs in this region could well get stuck in the 50s and 60s – especially where there is considerable cloud cover....
...MUCH MORE
 
We mentioned the teleconnections in Tuesday's "Typhoon Neoguri to Usher Cooler Air into Eastern U.S. for Mid-July, Futures Appear to have Reversed (FCG)".
Unfortunately for those of a longish persuasion only half that headline was right as the turn on Jul. 8th was undercut yesterday: