Natural Gas Prices Up for 7th Time in 9 Sessions - The Wall Street Journal
Natural Gas Prices Up for 7th Time in 9 Sessions - WSJ
Sept. 19, 2023 8:41 am ET
0833 ET – Natural gas prices in the US are rising for the seventh time in the past nine sessions, up 1.8% at $2.777/mmBtu, which would be the highest closing price since Aug. 30. The gains are partially due to natural gas getting swept up in a broader surge in energy commodities amid crude-oil production cuts from Saudi Arabia and Russia. But analysts say natural gas market-specific fundamentals are also at work. Domestic natural gas inventories that were a bearish 15% above normal a couple months ago have cut that surplus by more than half percentage-wise amid a pick-up in demand, and the surplus is now 6.8% above normal. ( dan.molinski@wsj.com)
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