• 3 minutes Australian power prices go insane
  • 7 minutes Wind droughts
  • 11 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 6 hours Is Europe heading for winter of discontent with extensive gas shortages?
  • 8 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days "Mexico Plans to Become an Export Hub With US-Drilled Natural Gas" - Bloomberg - (See image)
  • 46 mins "As the Earth Cools, the Climate Change Hoax Heats Up" by Michelle Edwards
  • 3 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 3 days The United Nations' AGENDA 2030 - The vision for One World Governance ...an article by the famous Dr Robert Malone
  • 2 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 4 days Hopes Are Dashed For International Oil Companies In North Iraq
  • 3 days The Federal Reserve and Money...Aspects which are not widely known
Julianne Geiger

Julianne Geiger

Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group.

More Info

Premium Content

Why Natural Gas Prices Just Exploded

The weather is going to be hot after all in the short term, forecasts now predict. That prediction sent natural gas prices soaring on Monday by nearly 20 percent as traders hold out hope for anything that will contribute to a reduction in nat gas stockpiles.

Natural gas prices have been trading under $2.50 since December on weak demand and oversupply.

Other bullish factors on Monday highlight the increased LNG/feedgas export figures provided over the weekend, with Genscape estimating a 740 MMcf/d increase on Saturday.

Natural gas prices were trending lower at the end of last week, as Hurricane ISAAIS was expected to bring cooler weather to most of the Gulf of Mexico.

Gas still has an oversupply problem, of course, and traders are still hoping that natural gas inventories will draw down soon—the call for warmer weather is part of that wishful thinking, sending natural gas prices up at least for now.

But this shorter-term warmer weather doesn’t mean a major heatwave that would send the demand for natural gas soaring.

Other bullish signals for nat gas include the cancelation of the Atlantic Coast nat gas pipeline, but Warren Buffett’s Berkshire Hathaway has snapped up that nat gas asset and more, despite some analyst’s call for nat gas to go the way of coal, as the bridge fuel just isn’t clean enough for the renewable crowd to buy into.

Natural gas plunged to a 25-year low in June, as demand for nat gas plunged on the milder temperatures, and the world remained awash with the fuel.

At 1:52 pm EDT, natural gas prices had risen 17.68% to $2.113, the first time it has been above $2 since May—and that was just for a day or two. Nat gas prices have not sat comfortably above $2 since December.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • Joe Schmoe on August 03 2020 said:
    "Other bullish signals for nat gas include the cancelation of the Atlantic Coast nat gas pipeline, but Warren Buffett’s Berkshire Hathaway has snapped up that nat gas asset and more"

    WRONG and WRONG
    --The cancellation of the ACP (Atlantic Coast Pipeline) is not bullish for Henery Hub NG prices. --Berkshire Hathaway did not buy the ACP that was cancelled.
  • John Smith on August 04 2020 said:
    "... some analyst’s call for nat gas to go the way of coal, as the bridge fuel just isn’t clean enough for the renewable crowd to buy into"

    And what alternative source of energy would they suggest, considering that wind and solar are near useless?

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News