Gas futures prices market watchers suggest weather-driven

Market watchers suggest weather-driven volatility could extend into March. Hess Midstream LP (HESM) is a master limited partnership (MLP) that owns, operates and develops a number of midstream energy assets, primarily located in the Williston Basin area of North Dakota. Those assets include more than 1,400 miles of natural gas and natural gas liquid (NGL) pipelines, 500 million cubic feet per day (MMcf/d) of gas processing capacity, 505,000 barrels per day of crude oil terminaling capacity, 590 miles of crude oil gathering pipelines, 330 miles of water gathering pipelines, and more. Despite a storage build in line with expectations, market bulls held on Thursday afternoon, buoyed by positioning ahead of October futures’ expiration at Friday’s close. Traders saw gas futures prices push higher after European LNG terminal data showed rising U.S. cargo bookings. February NYMEX gas settled at $2.76, with speculative buying adding momentum. Seasonal demand patterns remain supportive for the next 2–3 weeks.