On the New York Mercantile Exchange, natural gas futures for delivery in September traded at USD2.732 per million British thermal units during U.S. morning trade, up 0.46%.
The U.S. National Hurricane Center said a tropical depression in the central Atlantic had an 80% chance of becoming a tropical cyclone over the next two days, as it moved west across the Caribbean.
Production in federal waters in the Gulf accounts for about 10% of natural-gas output, and prices typically spike when storms threaten production. The U.S. Atlantic hurricane season began on June 1 and ends November 30.
But gains looked likely to remain limited as updated weather forecasts continued to predict milder weather across key parts in the U.S. over the next two weeks.
Cooler summer temperatures reduce the need for gas-fired electricity to power air conditioning, dampening demand for natural gas.
In its weekly report on Thursday, the U.S. Energy Information Administration said that natural gas storage in the U.S. rose by 20 billion cubic feet in the week ending August 10, to 3.261 trillion cubic feet, 16% above last year’s level and 13% above the five-year average level for the week.
Market analysts have warned that without strong demand through the rest of the summer cooling season, gas inventories will reach the limits of available capacity later this year.
Elsewhere on the NYMEX, light sweet crude oil futures for delivery in September tumbled 0.96% to USD95.09 a barrel, while heating oil for September delivery was down 0.42% to trade at USD3.079 per gallon
For the latest updates on the stock market, PRESS CTR + D or visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
Related Post:
gas
- Gasoline prices forecast winter 2013
- Natural gas futures forecast october 15-19 2012
- Natural gas futures prices october 10 2012
- Natural gas futures prices under pressure october 2 2012
- average fuel prices week september 24 2012
- Natural gas prices september 21 2012
- Impact European antitrust case against Gazprom on Russian gas market
- Natural Gas prices for september 17-21 2012
- Natural gas futures september 6 2012
- Natural gas prices forecast september 3-7, 2012
- EIA expects oil prices for 2012 - 2013
- Natural gas futures outlook 8/31/2012
- Natural gas futures for september 2012
- Natural gas futures prices august 30 2012
- Natural gas futures prices 8/29/2012
- Natural gas futures prices 8/27/2012
- Natural gas futures prices for august 27-31 2012
- Natural gas prices august 24 2012
- Natural gas prices forecast 2012 - 2013
- LNG production and consumption forecast 2020 -2030
- Natural gas futures prices 8/23/2012
- Natural gas futures prices 8/22/2012
- Natural gas prediction week August 20 - 24 2012
- Canadian natural gas prices august 14 2012
No comments:
Post a Comment