Natural Gas Prices Fall, Set for Small Weekly Decline - The Wall Street Journal
Natural Gas Prices Fall, Set for Small Weekly Decline - WSJ
Oct. 13, 2023 8:47 am ET
0830 ET – Natural gas prices are trading lower for a third consecutive session, down 1% at $3.311/mmBtu and are on course for a small, 2% weekly decline as investors worry about a re-widening of an inventory surplus during the weak-demand fall season. Weekly gas injections to storage came in below average throughout virtually the entire summer, helping to trim the surplus to just 4.8% above normal, fueled by a drop in production and persistent heat in the top gas-consuming state of Texas that lifted cooling demand. But analysts say production is set to rise again now as producers try to stock up for the upcoming winter heating season. ( dan.molinski@wsj.com)
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