Natural Gas Climbs To 5-Week High Ahead Of EIA Storage Data - The Wall Street Journal
Natural Gas Climbs To 5-Week High Ahead Of EIA Storage Data - WSJ
Sept. 14, 2023 8:15 am ET
0808 ET – Natural gas prices rise 4.8% to $2.808/mmBtu, which if maintained would be the highest closing price since Aug. 9. The gains come ahead of a weekly EIA storage report at 10:30 am ET that analysts expect will show another below-average injection that could further narrow a storage surplus. A WSJ survey forecasts a 47 billion cubic feet injection versus the normal 76-bcf increase. If those forecasts are confirmed, that would trim a storage surplus from 7.6% above normal to 6.4% above normal. Gas prices collapsed earlier this year when the surplus widened to 24% above normal, but the market has steadily chipped away at that overhang in recent months. ( dan.molinski@wsj.com)
Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Continue reading your article with
a WSJ subscription
Subscribe Now
Already a subscriber? Sign In
What to Read Next
- SHEIN: Up to 30% off with this SHEIN Coupon Code
- Nike: 60% Off running shoes and apparel at Nike without a promo code
- Walmart: $20 off when you sign up for Walmart Plus
- Wayfair: Wayfair coupon: $50 off $500+ or $200 off $1,000+
- KitchenAid: KitchenAid promo code: Get 30% Off first water filter + 20% Off refills
- Saks Fifth Avenue: Saks Fifth Avenue promo code 2023: 20% off first order