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Natural gas futures are trading higher early Monday as traders shrugged off last week’s bigger-than-expected storage build and forecasts calling for milder temperatures than previously expected into the end of the month. Instead of focusing on the smaller picture (last week’s EIA report), investors are shifting their focus toward the relatively low storage figure ahead of the start of withdrawal season later this year.
At 11:11 GMT, September natural gas futures are trading $3.710, up $0.052 or +1.42%.
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Here are some selected news articles from the week ended 17 July 2021. Part 2 is available here.
This is a feature at
Global Economic Intersection every Monday evening or Tuesday morning.
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Natural gas rigs at 15 mo high as prices hit 30 mo high; global oil shortage at 830,000 bpd; DUC backlog at 7.6 months
Natural gas prices ended the week unchanged as strong export demand offset cooler weather and a bearish storage report..after slipping 0.7% to $3.674 per mmBTU last week as weather forecasts moderated over the major gas consuming regions, the contract price of natural gas for August delivery jumped 7.5 cents, or more than 2%,
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Ohio
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Brazil
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Virginia
Brookline
Massachusetts
West-virginia
Mexico
Schoharie-county
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