• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 days The United States produced more crude oil than any nation, at any time.
  • 10 days e-truck insanity
  • 9 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 5 days How Far Have We Really Gotten With Alternative Energy
  • 8 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 9 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 10 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 10 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)

Breaking News:

Traders Place Bets On $250 Oil

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

U.S. Natural Gas Prices Slip From Seven-Week High

  • Benchmark U.S. natural gas prices fell by 2% early on Friday.
  • Thursday’s weekly gas storage report from the EIA was slightly on the bearish side, as net injections into storage totaled 90 billion cubic feet per day (Bcf) for the week ending September 22.
  • Milder weather ahead could weigh on U.S. natural gas prices in the coming days and weeks.
Gas Storage

After finishing at a seven-week high on Thursday, the benchmark U.S. natural gas prices fell by 2% early on Friday, amid expectations of above-normal temperatures in early October and as November became the front-month contract after the expiry of the October futures contract.

Thursday’s weekly gas storage report from the EIA was slightly on the bearish side, as net injections into storage totaled 90 billion cubic feet per day (Bcf) for the week ending September 22, compared with the five-year average net injections of 84 Bcf and last year’s net injections of 103 Bcf during the same week. Analysts had expected injections at around 88 Bcf for last week.  

As of September 22, working natural gas stocks totaled 3,359 Bcf, which is 6% more than the five-year average and 13% more than last year at this time.   

Dry natural gas production remained unchanged at an average 101.2 Bcf/d, and average net imports from Canada increased by 2.0% (0.1 Bcf/d) from last week, the EIA said in its natural gas weekly update on Thursday.

For the month of September, LSEG reported a drop in average gas output in the United States, technical analyst James Hyerczyk noted on Friday.

Milder weather ahead could weigh on U.S. natural gas prices in the coming days and weeks. The latest forecasts expect weather in the lower 48 states to remain warmer than normal at least until October 12. Average temperatures are seen at around 73 F (22.8 degrees Celsius) compared to a normal of 69 F for that time of year.

Overall, demand for natural gas in the United States is expected to be low to very low until October 4, according to NatGasWeather.com. The southern U.S. will be warm with highs of 80s to 90s F, while the rest of the U.S. will be nice with highs of 60s to 80s as high pressure rules besides cooler 50s across the unsettled Northwest and North Rockies. National demand is expected to be light in the next 15 days, according to NatGasWeather.com.

By Tsvetana Paraskova for Oilprice.com

ADVERTISEMENT

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

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