• 3 minutes Is Pete Buttigieg emerging as the most likely challenger to Trump?
  • 5 minutes Can LNG Kill Oil?
  • 8 minutes Question: Why are oil futures so low through 2020?
  • 11 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 17 mins “The era of cheap & abundant energy is long gone. Money supply & debt have grown faster than real economy. Debt saturation is now a real risk, requiring a global scale reset.”"We are now in new era of expensive unconventional energy
  • 53 mins CoV-19: China, WHO, myth vs fact
  • 7 hours Question - What if there are no buyers for Chevron's Appalachia Assets?
  • 1 hour Blowout videos
  • 1 day OIL trades as if the virus is a 1 quarter event. As if it's Containable, Reversible and Temporary. Is it ?
  • 21 hours Energy from thin air?
  • 2 days Hey NYC - Mayor De Blasio declares you must say goodbye to fossil fuels. Get ready to freeze your Virtue Signaling butts off.
  • 3 hours Natural Gas
  • 2 days Foxconn cancelled the reopening of their mfg plants scheduled for tomorrow. Rescheduled to March 3rd. . . . if they're lucky.
  • 2 days Fast-charging, long-running, bendy energy storage breakthrough
  • 6 hours Cheap natural gas is making it very hard to go green
  • 1 day Coronovairus, Phase One Agreement, Lower for Longer
Alt Text

The True Cost Of “Freedom Gas”

The United States is betting…

Alt Text

Are Asian LNG Prices About To Rally?

LNG spot prices rose last…

Alt Text

Canada’s Natural Gas Crisis Is Going Under The Radar

Canadian natural gas producers continue…

Erwin Cifuentes

Erwin Cifuentes

Erwin Cifuentes is a Contributing Editor for Southern Pulse Info where he focuses on politics, economics and security issues in Latin America and the Caribbean.…

More Info

Premium Content

U.S. Natural Gas Futures Reach 21-Month Peak

Natural gas futures in the United States (US) on 7 October rose to its highest point since June 2015 as investors anticipate a boost in demand for the commodity.

Gas futures for November delivery spiked by 14.4 cents to $3.193 per million British thermal units on the New York Mercantile Exchange. The climb in price of natural gas of 4.7 percent allowed futures to increase for the fifth straight day. As a result, the week of 3 October posted the biggest weekly gain since last August.

Traders were reportedly buoyed on predictions from meteorologists of unseasonably warm weather in the forty-eight contiguous states from 12 October to 21 October, which is expected to increase demand and trim the fat off the supply glut, which stand at 3.68 trillion cubic feet—74 billion cubic feet above that of a year ago.

Hurricane Matthew’s northward journey through the Caribbean caused extensive damage, as well as a death toll in the hundreds. Yet analysts like Phil Flynn of the Price Futures Group do not believe that the storm will significantly hurt natural gas demand due to outages in the southeastern US.

“The latest forecasts seem to suggest the amount of power outages are not as big as feared from Hurricane Matthew, Flynn said in an interview with Bloomberg.

“The warmer temperatures are adding cooling demand,” he added.

Another possible factor behind the rise in futures might come from the growth of the US natural gas market, which was discussed on OilPrice.com on 7 October. Data from the Energy Information Administration’s 2015 Natural Gas Annual show an increase of natural gas production and consumption, though prices have generally been on a downward slide since 2014.

By Erwin Cifuentes for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage




Leave a comment

Leave a comment




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