Natural Gas News – September 17, 2024
Natural Gas News – September 17, 2024
Milder Weather & Supply Disruptions Create Tug-of-War
Natural gas futures hover near 50-day Moving Average, as traders weigh Hurricane Francine’s impact and bearish weather forecasts. Support for natural gas sits at $2.252, with resistance at $2.482. A break above could signal a bullish trend reversal. Hurricane Francine disrupts Gulf production, keeping supply tight despite high inventory
levels and bearish demand forecasts. Milder weather predictions could reduce natural gas demand, tempering the bullish sentiment driven by supply constraints. Natural gas futures show minimal movement on Monday, staying close to the key 50-day moving average at $2.30. Traders are carefully evaluating the ongoing effects of Hurricane Francine against potentially bearish weather patterns. At 12:06 GMT, Natural Gas Futures are trading $2.301, down $0.004 or -0.17%. Support for natural… For more info go to https://tinyurl.com/53tuj9w4
Texas Natural Gas Pipeline Explodes Into Flames
A natural liquid gas pipeline erupted near Houston on Monday, prompting authorities to evacuate homes and businesses as shelter in-place orders covered multiple schools. Evacuation orders covered about 50 homes in Deer Park, where the fire originated, about 20 miles southeast of Houston. At least a few of the five residences
nearest the blaze have been damaged, city officials said at a news conference. A responding firefighter from nearby Pasadena was injured near the fire, officials from the neighboring city of La Porte said in a statement. Details about the extent of the injury or the firefighter’s condition were not available, and Pasadena fire officials did not immediately respond to a request for more information Monday. Evacuation orders covered nearly 1,000 homes and businesses in L… For more info go to https://tinyurl.com/3sm7yvz6
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