September 25, 2020 – Natural Gas Intelligence
October Natural Gas Futures Close Volatile Week on Low Note
By Kevin Dobbs
On Friday, however, comfortable highs of 70s and 80s spanned much of the country, minimizing near-term weather demand.
Prices dropped in every region, though the declines were most pronounced in the East and in West Texas.
Domestic natural gas production plunged more than 3 Bcf at one point in the week leading up to Friday’s trading, in part because of Gulf Coast production temporarily pushed offline by Beta, following previous storms. The decline was more pronounced because of planned fall maintenance and near-term curtailments in the East amid uneven demand and storage challenges, according to RBN Energy LLC analyst Sheetal Nasta.
“Storage levels are soaring, not just in the Northeast but also in downstream markets, reducing flexibility to navigate supply congestion and forcing production curtailments,” Nasta said.
The result: price volatility.
Read the full article here: https://www.naturalgasintel.com/october-natural-gas-futures-close-volatile-week-on-low-note/