Nat Gas News – March 22, 2017

Nat Gas News – March 22, 2017

In the News

U.S. natural gas extends gains to reach 5-week highs

Nasdaq reports: U.S. natural gas futures extended gains to a third session on Tuesday, hitting the strongest level since February as forecasts showing cooler weather on the way continued to boost the heating fuel. Temperatures are expected to remain much colder than normal through the end of the week, with highs struggling to reach the 30s, while overnight lows drop into the t e e n s t o b e l o w 0 F . A fast-moving weather system will then impact the east-central U.S. Saturday into Sunday, followed by warming Monday, but again cooling off mid-week. Prices of the heating fuel are down around 16% so far this year as forecasts for warm winter weather we i g h e d o n h e a t i n g d ema n d e x p e c t a t i o n s . For more visit Nasdaq.com or click http://bit.ly/2nmiXQV

Southwestern Pennsylvania set to be major player in energy market

The Trib reports: Already known for the Marcellus shale natural gas boom, Southwestern Pennsylvania stands to become a crucial player in driving demand for more natural gas in the next several years, an expert said Tuesday. Forbes magazine recently reported that the Marcellus and Utica shale plays in Pennsylvania and Ohio represent 85 to 90 percent of the growth in U.S. shale gas production since 2012, with the Marcellus shale being responsible for 18 billion cubic feet per day in 2016. Partly because of the Marcellus and Utica shale plays, the United States became a net exporter of natural gas last year. On the natural gas side, power plants such as the Tenaska Westmoreland Generating Station near Smithton and petrochemical plants such as the Shell ethane “cracker” facility in Beaver County are driving more optimistic forecasts. For more, visit triblive.com or click http://bit.ly/2nRhi3z

Market Condition Report - Disclaimer
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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