Natural Gas News – August 11, 2017
Natural Gas News – August 11, 2017
Oil Prices Fall 2%, but Natural Gas Futures Rally to a 3-Week High
Market Watch reports: Oil futures pulled back on Thursday, marking the lowest finish in more than two weeks, with U.S. prices failing to hold above $50 a barrel as a report from OPEC showed that crude production among the group’s members rose in July. Natural-gas futures, meanwhile, finished at a three-week high after U.S. government data revealed a smaller-than expected weekly climb in domestic supplies of the fuel. The $50 level “remains a huge psychological barrier for U.S. oil,” said Robbie Fraser, commodity analyst at Schneider Electric. Elsewhere on Nymex, prices for natural gas ended at their highest level in three weeks following data from the U.S. Energy Information Administration Thursday that showed domestic supplies of natural gas rose by 28 billion cubic feet for the week ended Aug. 4. For more visit marketwatch.com or click http://on.mktw.net/2wAjpNo
U.S. Expected to be Net Exporter of Natural Gas This Year
The Maritime Executive reports: The U.S. has been a net exporter for three of the past four months and is expected to continue to export more natural gas than it imports for the rest of 2017 and throughout 2018. The trend is expected to continue past 2018 because of growing U.S. natural gas exports to Mexico, declining pipeline imports from Canada and increasing exports of LNG. In addition, supplies of natural gas out of Appalachia into the Midwestern states are likely to gradually displace some pipeline imports from Canada as well as increase U.S. pipeline exports to Canada from both Michigan and New York. For more on this story visit maritime-executive.com or click http://bit.ly/2wAoNQz
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