Natural gas is up by 5.03%

US natural gas prices rose to $3.26/MMBtu on Thursday, rising for the fifth session to a two-week high, supported by lower production and concerns over storm-related supply disruptions in the Gulf of Mexico. Lower 48 production averaged 111.5 bcfd so far in October, down from record highs of 113.3 bcfd in both August and September, partly due to recent force majeure events and other pipeline disruptions in Kentucky, Texas and West Virginia. Traders are monitoring Tropical Storm Isaias, which is expected to reach the Gulf Coast as a hurricane on Friday. While storms can disrupt Gulf Coast gas production and lift prices, they can also weigh on demand if LNG export facilities shut down or power outages reduce gas consumption. Meanwhile, daily feedgas flows rose as Freeport LNG increased gas intake following the return of a liquefaction train from maintenance. Expectations for a smaller-than-usual build in weekly gas storage, with the data due later in the day, also provided support.

Natural gas increased 5% to 3.2697 USD/MMBtu

Natural gas increased 5.03% to 3.2706 USD/MMBtu