Natural gas futures are soaring on Thursday after the US government reported a smaller-than-expected supply build. With North America and Europe bracing for cold temperatures over the next few weeks, natural gas prices are poised to have a big November. Could natural gas test $4 by year’s end? November natural gas futures climbed $0.419, or 13.99%, to $3.415 per million British thermal units (btu) at 15:55 GMT on Thursday on the New York Mercantile Exchange. Natural gas prices had been trading at their best levels since the end of 2018 before Thursday’s impressive rally. Year-to-date, natural gas is up 56%. According to the US Energy Information Administration (EIA), domestic inventories of natural gas increased by 29 billion cubic feet for the week ending October 23. … [Read More...]

Natural gas futures shrugged off the bearish US government inventory report. Natural gas prices had traded slightly lower in the initial release of the supply data, but they headed back in the green to continue trading at their best levels in two years, breaking above $3. How much higher can natural gas prices go in the coming weeks? November natural gas futures rose $0.01, or 0.33%, to $3.033 per million British thermal units (btu) at 17:26 GMT on Thursday on the New York Mercantile Exchange. The energy commodity slipped below $3 following storage numbers, but then they advanced as high as $3.06. Natural gas is on track for a weekly boost of about 9%, bringing its year-to-date rally to nearly 40%. According to the US Energy … [Read More...]

Natural gas futures are advancing toward the end of the trading week after the US government reported a smaller-than-expected jump in domestic inventories. Despite a Wednesday selloff, natural gas prices are recovering as investors brace for a colder-than-average winter. Could the energy commodity test $3 by year’s end? November natural gas futures surged $0.155, or 5.88%, to $2.791 per million British thermal units (btu) at 17:29 GMT on Thursday on the New York Mercantile Exchange. Natural gas had been trading at its best level in about 18 months before paring its spike. Natural gas prices are on track for a weekly gain of about 6%, lifting their year-to-date increase to around 28%. According to the US Energy Information Administration (EIA), domestic stockpiles of … [Read More...]