Natural Gas News – March 26, 2018
Natural Gas News – March 26, 2018
Demand for Natural Gas is Surging, but Glut Remains
US News and World Report reported: China and a dozen smaller natural gas markets around the world are spurring the fastest growth in demand for natural gas in more than seven years, but a global glut is expected to keep a lid on prices for U.S. producers. To the delight of chemical companies, power plants and homeowners that rely on natural gas – and the disappointment of the companies that extract it – benchmark prices in the U.S. have largely held below $3 per million British thermal units, down from about $6 in February 2014 and a 10-year peak of $12.69 in June 2008. Global consumption, meanwhile, has steadily risen from a low of less than 3 trillion cubic meters to more than 3.5 trillion in 2016. Ongoing demand spurred Bloomberg New Energy Finance last fall to upgrade its forecast, predicting that demand in 2018 would grow by another 8.8 percent – the fastest increase since 2011. China is the big driver behind the surge in demand: As the country’s move to reduce air pollution has spurred homeowners to switch from coal to cleaner-burning natural gas for heat, and heavy industry to convert its fuel sources from coal and oil to gas, the Chinese market is expected to become the world’s biggest importer of gas by 2025. For more on this story visit usnews.com or click http://bit.ly/2ulwi10
Natural Gas Blinks Before Bouncing Moves
Investing.com reported: Natural Gas futures price seems to hold for a while since the China has expressed willing to hold talks with the United States to resolve their differences over trade. Peaceful efforts to ease the fear of current possibilities of trade war between the world’s two largest economies will definitely be a big step for bulls rally everywhere in the World. For more visit investing.com or click http://bit.ly/2G79R54
This article is part of Daily Natural Gas Newsletter
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