Natural Gas News – September 6, 2018

Natural Gas News – September 6, 2018

Oil Prices Drop to 1-Week Lows as Gulf Coast Storm Gordon Misses Major Energy Sites

Marketwatch reported: Oil prices settled on Wednesday at their lowest levels in about a week as a major storm that passed through the Gulf of Mexico missed the bulk of the oil and natural-gas operations in the region. “Gordon largely turned out to be a non-event for the energy market, and if anything, the sell-the-news aspect of the tropics trade has triggered a profit-taking pullback across the space,” said Tyler Richey, coeditor of the Sevens Report. October West Texas Intermediate crude on the New York Mercantile ExchangeCLV8, +0.03% the U.S. oil benchmark, fell $1.15, or nearly 1.7%, to settle at $68.72 a barrel—the lowest for the contract in just over a week. November BrentLCOX8, +0.32% the global benchmark, settled at $77.27 a barrel, down 90 cents, or almost 1.2%, on the ICE Futures Europe exchange. It marked the lowest finish since last Wednesday. For more on this story visit marketwatch.com or click https://on.mktw.net/2MUWng3

Pennsylvania Consumers Saved More Than $30 Billion over 10 Years from Lower Natural Gas Prices

Marketwatch reported: Thanks to increased production and new technologies, which have decreased the price of natural gas, Pennsylvanians saved more than $30.5 billion between 2006 and 2016, according to a new state report released today by Consumer Energy Alliance (CEA). Residential users alone saved almost $13.3 billion, while commercial and industrial users saved upwards of $17.2 billion, the report, titled “Everyday Energy for Pennsylvania,” said. The analysis examined how the shale revolution across the Marcellus region has provided benefits to the Keystone State’s end-use energy consumers by boosting disposable income and economic investment, as well as revitalizing communities. For more on this story visit marketwatch.com or click https://on.mktw.net/2MQuoOw

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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