September 19, 2021 – Wall Street Journal
Natural-Gas Prices Surge, and Winter Is Still Months Away
By: Ryan Dezember
The U.S. Energy Information Administration on Thursday will give a fresh estimate of the volume of natural gas in storage, which it last estimated to be 16.5% less than a year ago. Now is the time of year when drillers fill storage tanks and caverns to get through winter, when demand is greatest and households are most exposed to higher prices in their heating bills.
“The time to replenish stocks for the winter is rapidly running out,” said Lindsay Schneider, an analyst with consulting firm RBN Energy LLC.
Crude prices haven’t warranted much new oil drilling, which has cut down on the amount of gas produced as a byproduct, while the Appalachian firms that swing the market have given priority to profits over production growth and held back.
Read the full article here: https://www.wsj.com/articles/natural-gas-prices-surge-and-winter-is-still-months-away-11631986861
