Natural Gas Prices Surge Higher For 4th Straight Session - The Wall Street Journal
Natural Gas Prices Surge Higher For 4th Straight Session - WSJ
Updated Sept. 27, 2023 2:53 pm ET
1448 ET – The front-month natural gas contract for October delivery, which expired today, finishes 4.1% higher on the day at $2.764/mmBtu, marking a fourth straight session of prices increases. The front-month now shifts to the November delivery contract, which climbed 1.9% today to finish at $2.899/mmBtu, meaning the market will begin tomorrow’s trading session from an elevated position. Today’s price-gains were driven mostly by broader gains in energy markets as US oil futures finished today at a 13-month-high of nearly $94 a barrel. But gas-market fundamentals have also improved lately, with below-average storage injections seen in each of the past 11 weeks of EIA data, helped by a sizzling-hot summer in Texas that boosted cooling demand. ( dan.molinski@wsj.com)
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