• 6 minutes WTI @ 67.50, charts show $62.50 next
  • 14 minutes Saudi Fund Wants to Take Tesla Private?
  • 18 minutes California Solar Mandate Based on False Facts
  • 1 hour Starvation, horror in Venezuela
  • 1 hour Monsanto hit by $289 Million for cancerous weedkiller
  • 8 hours WTI @ 69.33 headed for $70s - $80s end of August
  • 4 hours Why hydrogen economics is does not work
  • 12 hours Saudi Production Cut or Demand Drop?
  • 7 hours WSJ *still* refuses to acknowledge U.S. Shale Oil industry's horrible economics and debts
  • 15 mins Oil prices---Tug of War: Sanctions vs. Trade War
  • 21 mins Correlation does not equal causation, but they do tend to tango on occasion
  • 13 hours What Turkey Sanctions Are Really About
  • 28 mins Russia retaliate: Our Response to U.S. Sanctions Will Be Precise And Painful
  • 10 hours Merkel, Putin to discuss Syria, Ukraine, Nord Stream 2
  • 6 hours Saudi Aramco IPO Seems Unlikely
  • 13 hours < sigh > $90 Oil Is A Very Real Possibility
Alt Text

UK Gas Prices Rise Most In 8 Years On Explosion, Outages

Extreme weather warnings, the Forties…

Alt Text

Are NatGas Prices About To Explode?

U.S. natural gas prices have…

Alt Text

How Long Can U.S. Refineries Remain Offline?

As hurricane Harvey has moved…

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

Trending Discussions

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

Gas Storage

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:




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




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