• 6 days Retail On Pace For Most Bankruptcies And Store Closures Ever In One Year: BDO
  • 10 minutes America Could Go Fully Electric Right Now
  • 1 hour Majors Oil COs diversify into Renewables ? What synergies forget have with Solar Panels and Wind Tirbines ? None !
  • 13 mins OP Kennedy article : "Trump blasts Biden Fracking Plan . . . "
  • 15 hours America's Frontline Doctors - Safely Start Living Again!
  • 20 hours France Sees 10.6% EV Market Share In September — 4× Growth Year On Year
  • 21 hours Conoco Pledges ‘Net-Zero’ Emissions in Break With U.S. Rivals
  • 16 hours Vote Biden for Higher Oil Prices
  • 2 days Something wicked this way comes
  • 2 days Permian in for Prosperous and Bright Future
  • 2 hours Clean Energy Is Canceling Gas Plants
  • 16 hours Tesla Model 3 Is September's Top Selling Car of All Vehicles in Switzerland
  • 4 hours "COVID Kills Another Oil Rally" by Tom Kool 10/16/2020
  • 21 hours TX NATGAS flaring
  • 1 day GPOR - Gulfport Oil - Why?
  • 1 day covid. stop the carriers and thus stop the virus.
  • 2 days A sneak peak into the US election
  • 3 days California’s Electric Vehicle Dream Has A Major Problem: No
Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

Natural Gas Prices Jump Again On Smaller-Than-Forecast Stock Build

After surging more than 15 percent to over $2 per million British thermal units (MMBtu) on Wednesday, U.S. front-month natural gas futures rose by another 5 percent by mid-day on Thursday, after the EIA reported a smaller-than-expected natural gas injection into storage.

As of 12:30 p.m. EDT on Thursday, the front-month Henry Hub futures price was $2.239/MMBtu, up by 5.27 percent on the day.  

Earlier on Thursday, the EIA issued its weekly natural gas storage report, showing a net increase of 66 billion cubic feet (Bcf) from the previous week in U.S. working gas in storage as of September 18. At 3.680 trillion cubic feet, working gas in storage is above the five-year historical range, but last week’s net increase in storage was lower than the 78-bcf build that a Reuters poll of analysts had expected.  

This week, natural gas prices have seen some extreme volatility, from a 10-percent plunge on Monday, to a 15-percent surge on Wednesday, also due to the rollover of the October futures contract expiring on September 28, with traders rolling out of the October contract to the November contract of higher prices.

Lower natural gas production and expectations of increased exports via pipeline to Mexico and tankers of liquefied natural gas (LNG) also supported natural gas prices on Wednesday and Thursday.

In addition, the LNG gas feed is also set to rise to 5.7 bcfd on Thursday from 3.9 bcfd on Tuesday, which was a two-week low due to Tropical Storm Beta earlier this week.

Expectations of cooler weather in some parts of the U.S. next week also lent support to natural gas futures on Thursday.

“A major pattern change will occur mid-next week as a strong early season cool shot pushes into the Midwest and Northeast with highs of 40s to 60s,” according to NatGasWeather.com.

By Tsvetana Paraskova 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