- Cold weather in much of the U.S. lifts spot natural gas prices to their highest since January in several regions, while natural gas futures -13% to $4.18/MMBtu as investors took profits after rallying to the highest levels in nearly four years.
- Prices were little changed by today's EIA data showing U.S. supplies rising by 39B cf for the week ended Nov. 9.
- Futures traders say the cold weather will force utilities to start withdrawing gas from storage caverns that already are well below normal for this time of year, prompting concerns of possible gas shortages in some parts of the U.S. later this winter.
- Meanwhile, next-day prices rose to their highest since January at the Henry Hub benchmark in Louisiana, Dominion South in Pennsylvania and Chicago citygate.
- Gas-focused equities are mixed: CHK +1.1%, AR +0.7%, EQT +0.1%, GPOR -0.2%, COG -1.3%, RRC -1.8%, SWN -2%.
- ETFs: UNG, UGAZ, DGAZ, BOIL, GASL, FCG, KOLD, UNL, GASX, DCNG, GAZB
- Now read: Natural Gas Prices Could Rise Much Higher This Winter
Original article