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Natural gas soars 10.2 cents

Posted on: August 11, 2017

An exciting day for NYMEX natural gas as September prices soared 10.2 cents closing at $2.985/MMBtu, the highest value in three weeks. Weather models remained consistent with above normal temperatures expected in the Northeast. The rise in prices can be attributed to the strong inventory figure released by the EIA, which reported a build of 28-Bcf for August 4th; bullish against the 36-Bcf the market was expecting.

Working gas stocks now sit at 3,038-Bcf, which is 275-Bcf less than this time last year and 61-Bcf higher than the 5-year average.


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