Nat Gas News – September 7, 2017
Nat Gas News – September 7, 2017
Florida NatGas, Power Utilities Prep for Potential Category 5 Irma Landfall; BP Evacuates in GOM
Natural Gas Intelligence reports: Hurricane Irma, a catastrophic Category 5 storm that was barreling through the Caribbean on Wednesday, is likely to have some impact on natural gas markets if it strikes the United States, which forecasters were anticipating. However, with miniscule energy infrastructure compared to the Texas and Louisiana coast, and hurricane-savvy utilities that should be able to restart power at a fairly brisk pace, the impact to gas markets should be minimal, according to Natgasweather.com. Forecasters said Wednesday Irma’s damage is likely to be extensive, “but to the natural gas markets, they’ve tended to have a bearish stance with the storm due to any potential production being lost more than offset by cooler temperatures and power outages.” For more on this story visit naturalgasintel.com or click the following link http://bit.ly/2eO7RSE
U.S. Natural Gas Bounces Back as Traders Monitor Irma, Other Storms
Investing.com reports: U.S. natural gas futures edged higher on Wednesday, recouping some of the prior session’s more than 3% decline as “potentially catastrophic” Hurricane Irma headed for American shores. Another Tropical Storm, Jose, is gathering strength in the Atlantic and may shape up as another hurricane. The weather threats come after Hurricane Harvey caused flooding and devastation in Texas less than two weeks ago, forcing the closure of several refineries and pipelines. Energy traders track tropical weather in the event it disrupts production in the Gulf of Mexico. Early market expectations for this week’s storage data due on Thursday is for a build in a range between 58 and 67 billion cubic feet in the week ended September 1. For more visit investing.com or click http://bit.ly/2eJsrjC
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