In the News
West Virginia’s Senators Urge Appalachian Natural Gas Hub
West Virginia Public Broadcasting reports: West Virginia’s U.S. senators have introduced legislation intended to help establish a major natural gas storage and distribution hub in the Appalachian region. Their legislation would designate it a “critical energy infrastructure” project, which they say would make it eligible for expedited federal permits. It would also direct federal agencies to expedite grant and loan applications. Last month they urged the White House to examine the benefits of putting a natural gas liquidstorage and distribution hub in the region with growing but still underutilized reserves of underground natural gas.
U.S. Natural Gas Futures Creep Up in Choppy Trade
Investing. com reports: U.S. natural gas futures edged higher on Tuesday, but gains were limited as traders monitored shifting weather forecasts to assess the outlook for early-summer demand and supply levels. U.S. natural gas for July delivery was at $3.030 per million British thermal units by 9:20AM ET, up 0.6 cents. Prices of the fuel fell for the first time in three sessions on Monday. Warm to hot conditions will dominate the eastern half of the country this week, as strong high pressure continues to spread. Over the West, an unseasonably cold weather systems continues to bring heavy showers. Looking further out, the east-central U.S., including the Northeast will be near to slightly cooler than normal from June 20-27, as weather systems track through. Market participants looked ahead to weekly storage data due on Thursday, which is expected to show a build in a range between 79 and 89 billion cubic feet in the week ended June 9.