Natural Gas Prices Decline After 6-Session Rally - The Wall Street Journal
Natural Gas Prices Decline After 6-Session Rally - WSJ
Updated Oct. 11, 2023 8:27 am ET
0823 ET – Natural gas prices fall 1.1% to $3.346/mmBtu in a profit-taking move that if maintained would be the first daily drop after six consecutive sessions of gains. Prices ended yesterday at $3.3820/mmBtu, the highest closing price since Jan. 23. “Nat gas prices are up nearly 60c since mid-last week, with strength only partially attributed to a 35% jump in European TTF gas prices after Hamas attacked Israel, striking Australian LNG workers, and a Baltic pipeline leak,” says NatGasWeather.com in a note. “Most important, we view the primary reason for recent natural gas strength as being due to last week’s surprise bullish EIA report miss and cooler trends across the northern US through early next week.” ( dan.molinski@wsj.com)
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