Natural Gas News – September 11, 2018

Natural Gas News – September 11, 2018

Natural Gas Line Explosion Leads to Evacuations in Western Pennsylvania Town

News 5 Cleveland reported: Dozens of people were evacuated early Monday after a natural gas line explosion in a small western Pennsylvania community. There were no injuries as a result of the blast shortly before 5 a.m. ET in Center Township in Beaver County, police Chief Barry Kramer said. However, he said, “The main goal was to evacuate.” Dramatic video of a subsequent fire was widely shared on social media, with footage of the flames lighting up the sky. “The entire sky was orange,” resident Chelsea Guthrie told CNN. “The flames were coming up about 10 or 15 feet above the tree line.” The utility company had shut off the line by 5:52 a.m., Kramer said, allowing first responders to get a closer look. “There was damage to a house, garage and vehicles,” he said. The Dallas-based Energy Transfer, the owner and operator of the line, told CNN a monitoring system triggered the closing of valves to isolate the line, allowing the fire to extinguish itself by about 7 a.m. For more on this story visit news5cleveland.com or click https://bit.ly/2x5QstY

Natural Gas Plunges on Weather Worries, Production Growth

Nasdaq reported: The U.S. Energy Department’s weekly inventory release showed a larger-than-expected increase in natural gas supplies. Bearish weather predictions and strength in the commodity’s production also pressured the fuel’s price, which lost around 4.8% for the week. The Weekly Natural Gas Storage Report – brought out by the Energy Information Administration (EIA) every Thursday since 2002 – includes updates on natural gas market prices, the latest storage level estimates, recent weather data and other market activities or events. The report provides an overview of the level of reserves and their movements, thereby helping investors understand the demand/supply dynamics of natural gas. It is an indicator of current gas prices and volatility that affect businesses of natural gas-weighted companies and related support plays. For more on this story visit oilvoice.com or click https://bit.ly/2oVYyS2

 

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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