Natural Gas Prices Up for 7th Time in 9 Sessions - The Wall Street Journal
Natural Gas Climbs 5%, Nearing a 6-Week High - WSJ
Updated Sept. 19, 2023 11:45 am ET
1134 ET – Natural gas prices rise 5% to $2.866/mmBtu, which if maintained would be the highest closing price since Aug. 9. “Maintenance on pipelines and some heat returning to Texas is keeping the buyers present,” says BOK Financial in a note. “Of course, crude oil trading with a $93/bbl handle also keeps Nat Gas shorts a bit nervous as $2.70 Nat Gas looks very cheap compared to crude oil, or $14/bushel soybeans for that matter. Also noted is that Freeport LNG is back to near full capacity.” Technically speaking, the firm says October natural gas “has moved back to a bullish trend with an upside target at the 3.089 area. Major support rests at the 2.50 area.” ( dan.molinski@wsj.com)
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