"Con Edison, a major utility company in New York City, said on Wednesday that it expects the latest natural gas supply stoppage for its interruptible load customers to continue for an extended period of time", according to an "OPIS Price Watch Alert" issued on Thursday.
"Following Con Edison's notice on Wednesday, the other two major utilities, National Grid and Orange & Rockland, announced similar gas supply rationing on Thursday", OPIS said.
"So far this year, New York City utilities have consistently implemented gas rationing in response to peak demand and cold winter weather. The latest gas supply interruption is the fifth in the first two months of 2015", OPIS wrote.
"Unlike last winter, the consistent gas rationings have [had] very limited impact on heating oil prices due to adequate heating oil inventory and high refinery utilization rates", said OPIS.
"Northeast distillates inventory for the week ended Feb. 6 was at 36.8 million bbl, about 19 million bbl higher than a year ago according to the EIA", and reported by OPIS. "U.S. refineries are continuing to run at relatively high rates due to healthy margins."
To read more about this story go to opisnet.com.
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