Nat Gas News – August 25, 2017

Nat Gas News – August 25, 2017

Hurricane Harvey Strengthens to Category 2 as Texas Prepares for Onslaught

The Chicago Tribune reported: Harvey continued to intensify as it steered for the Texas coast, with the forecasters saying early Friday that it had strengthened to a Category 2 storm. The hurricane with the potential for up to 3 feet of rain, 125 mph winds and 12-foot storm surges could be the fiercest such storm to hit the United States in almost a dozen years. Forecasters labeled Harvey a “life-threatening storm” that posed a “grave risk” as millions of people braced for a prolonged battering that could swamp dozens of counties more than 100 miles inland. Landfall was predicted for late Friday or early Saturday between Port O’Connor and Matagorda Bay, a 30-mile (48-kilometer) stretch of coastline about 70 miles (110 kilometers) northeast of Corpus Christi. For more visit chicagotribune.com or click the following link http://trib.in/2ix3X1M

U.S. Natural Gas Futures Hold Gains after Storage Data

Investing. com reports: U.S. natural gas futures initially extended gains in North American trade on Thursday, immediately after data showed that natural gas supplies in storage in the U.S. rose less than expected last week, but quickly returned to levels seen prior to the release of the data. The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. rose by 43 billion cubic feet in the week ended August 18, while analysts had forecast a decrease of just 45 billion. A weather system with showers and cooling will sweep across the central and east-central U.S. through the end of the week, dropping demand to much lighter levels due to highs only reaching the 70s to lower 80s Fahrenheit. For more on this story visit investing.com or click http://bit.ly/2xia3GH

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The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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