Saturday, September 1, 2007

Canadian Natural Gas Prices - Up

According to the Bloomberg.com website natural gas at some of Canada's largest trading points increased as warmer-than-normal weather was forecast to cover much of the U.S. and central Canada by the weekend, boosting demand from power generators.
According to the Bloomberg.com website temperatures in New York may reach 82 degrees Fahrenheit (28 Celsius) on Sept. 2, above the normal 79 degrees, according to the U.S. National Weather Service. Highs in Toronto, Canada's largest city, may climb 6 degrees above normal to reach 81, Environment Canada said.

According to the Bloomberg.com website central Canada and the United States Northeast are among the biggest markets for gas mostly produced in western provinces including Alberta. Hot weather typically increases the amount of power needed to run air conditioners, raising demand for the fuel from some utilities.

According to the Bloomberg.com website spot prices at AECO rose 1 cent, or 0.2 percent, to C$4.25 per gigajoule ($4.242 per million British thermal units) at 12:58 p.m. on Calgary-based Natural Gas Exchange Inc.'s NGX electronic energy market. The southern Alberta hub is Canada's largest gas-trading center.

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