WTI Crude

Loading...

Brent Crude

Loading...

Natural Gas

Loading...

Gasoline

Loading...

Heating Oil

Loading...

Rotate device for more commodity prices

Will Low Oil Prices End Saudi Arabia’s Gas Subsidies?

Will Low Oil Prices End Saudi Arabia’s Gas Subsidies?

Feeling the fiscal pressure from…

Is An Oil Price Spike Imminent?

Is An Oil Price Spike Imminent?

In the wake of Harvey…

Hurricane Isaac Prompts Natural Gas Rally

Wednesday saw natural gas futures up nearly 1% on news that Hurricane Isaac would push more production offline and potentially damage the natural gas infrastructure in the affected region.

Nearly 72% of the Gulf’s natural gas output was suspended as of Wednesday, up 5 percentage points from the previous day.

Flooding remains the major concern for natural gas infrastructure in the area, but no long-term damage is expected.

Reuters reports that Isaac, the category 1 hurricane, is expected to move inland at a relatively slow 6 mph. 

According to the Wall Street Journal on Wednesday, the front-month natural-gas contract for September settled at $2.634/MMBtu, up two cents, while the October natural-gas contract settled at $2.685/MMBtu, up 5.2 cents.

By. Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News