{"id":26681,"date":"2023-06-23T18:06:37","date_gmt":"2023-06-23T22:06:37","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/commodities\/natural-gas-jumps-again-as-demand-bets-offset-storage-builds\/"},"modified":"2023-06-23T18:06:38","modified_gmt":"2023-06-23T22:06:38","slug":"natural-gas-jumps-again-as-demand-bets-offset-storage-builds","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=26681","title":{"rendered":"Natural gas jumps again as demand bets offset storage builds"},"content":{"rendered":"
\n

Investing.com — The bulls in natural gas are making a serious push above mid-$2 pricing for the fuel, amid prospects for warmer temperatures that could see Americans cranking up their air-conditioners a little more this summer.<\/p>\n

A late-day rally pushed the most-active up sharply on the New York Mercantile Exchange\u2019s Henry Hub on Friday, helping it gain 13.9 cents, or 5.1%, to settle at $2.843 per mmBtu, or metric million British thermal units.<\/p>\n

For the week itself, the benchmark gas futures contract rose 3.7%, extending the prior back-to-back weekly gains of 16.8% and 3.8%.<\/p>\n

It has been an interesting week for natural gas, with bulls managing to keep the market in the positive for four out of five sessions, including on Thursday when the U.S. Energy Information Administration, or EIA, reported a higher-than-expected weekly storage number for the fuel.<\/p>\n

Natural gas in rose by 95 billion cubic feet last week. The highest build estimate by most analysts for last week was 91 bcf.<\/p>\n

In the prior week to June 9, utilities injected just 84 bcf into storage after burning the gas needed to meet power and cooling needs.<\/p>\n

The latest 95-bcf build compared with a 76-bcf injection during the same week a year ago and a five-year (2018-2022) average increase of 86 bcf.<\/p>\n

It bumped up the total volume of gas in underground caverns in the United States to 2.729 trillion cubic feet, or tcf \u2014 up 26.5% from the year-ago level of 2.158 tcf and 15.3% higher than the five-year average of 2.367 tcf.<\/p>\n

In Friday\u2019s session, Henry Hub\u2019s front-month got to a low of $2.524, ostensibly on concerns over the supply build, before rebounding.<\/p>\n

Keeping to a steady rhythm of mid-$2 and above<\/h2>\n

Gas prices have managed to stay at or above the mid-$2 mark of late, helped by anticipation of higher cooling demand in the coming days and weeks as the U.S. summer season is projected to bring warmer temperatures.<\/p>\n

\u201cPower burn demand has decreased to 37.9 bcf\/day today,\u201d analysts at Houston-based energy markets advisory Gelber & Associates said in a note on Thursday to their clients in natural gas. “As weather warms over the coming weeks, power burn is likely to increase back to previous levels and push higher.\u201d<\/p>\n

With a near 15% gain for June, gas futures on the Henry Hub are headed for their best performance since August \u2014 the month they hit a 14-year high of $10 per mmBtu.<\/p>\n

While summer weather hasn\u2019t hit its typical baking point across the country, cooling demand is inching up by the day, particularly in Texas. This has sparked realization in the trade that higher price lows might be more common than new bottoms.The lowest Henry Hub\u2019s front-month got to this week was $2.448, versus the $2.136 bottom seen at the start of June.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Investing.com — The bulls in natural gas are making a serious push above mid-$2 pricing for the fuel, amid prospects for warmer temperatures that could see Americans cranking up their air-conditioners a little more this summer. A late-day rally pushed the most-active up sharply on the New York Mercantile Exchange\u2019s Henry Hub on Friday, helping […]<\/p>\n","protected":false},"author":1,"featured_media":7289,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[242],"tags":[83],"class_list":["post-26681","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-commodities","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nNatural gas jumps again as demand bets offset storage builds | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Investing.com -- The bulls in natural gas are making a serious push above mid-$2 pricing for the fuel, amid prospects for warmer temperatures that could\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=26681\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Natural gas jumps again as demand bets offset storage builds | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Investing.com -- The bulls in natural gas are making a serious push above mid-$2 pricing for the fuel, amid prospects for warmer temperatures that could\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=26681\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-23T22:06:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-23T22:06:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/LYNXMPECBI0MG_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"728\" \/>\n\t<meta property=\"og:image:height\" content=\"523\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=26681#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=26681\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Natural gas jumps again as demand bets offset storage builds\",\"datePublished\":\"2023-06-23T22:06:37+00:00\",\"dateModified\":\"2023-06-23T22:06:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=26681\"},\"wordCount\":468,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Commodities\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=26681#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=26681\",\"url\":\"https:\/\/ifintechworld.com\/?p=26681\",\"name\":\"Natural gas jumps again as demand bets offset storage builds | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-06-23T22:06:37+00:00\",\"dateModified\":\"2023-06-23T22:06:38+00:00\",\"description\":\"Investing.com -- The bulls in natural gas are making a serious push above mid-$2 pricing for the fuel, amid prospects for warmer temperatures that could\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=26681#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=26681\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=26681#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Natural gas jumps again as demand bets offset storage builds\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Natural gas jumps again as demand bets offset storage builds | iFintechWorld","description":"Investing.com -- The bulls in natural gas are making a serious push above mid-$2 pricing for the fuel, amid prospects for warmer temperatures that could","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=26681","og_locale":"en_US","og_type":"article","og_title":"Natural gas jumps again as demand bets offset storage builds | iFintechWorld","og_description":"Investing.com -- The bulls in natural gas are making a serious push above mid-$2 pricing for the fuel, amid prospects for warmer temperatures that could","og_url":"https:\/\/ifintechworld.com\/?p=26681","og_site_name":"iFintechWorld","article_published_time":"2023-06-23T22:06:37+00:00","article_modified_time":"2023-06-23T22:06:38+00:00","og_image":[{"width":728,"height":523,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/LYNXMPECBI0MG_L.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=26681#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=26681"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Natural gas jumps again as demand bets offset storage builds","datePublished":"2023-06-23T22:06:37+00:00","dateModified":"2023-06-23T22:06:38+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=26681"},"wordCount":468,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Commodities"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=26681#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=26681","url":"https:\/\/ifintechworld.com\/?p=26681","name":"Natural gas jumps again as demand bets offset storage builds | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-06-23T22:06:37+00:00","dateModified":"2023-06-23T22:06:38+00:00","description":"Investing.com -- The bulls in natural gas are making a serious push above mid-$2 pricing for the fuel, amid prospects for warmer temperatures that could","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=26681#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=26681"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=26681#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Natural gas jumps again as demand bets offset storage builds"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/26681","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26681"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/26681\/revisions"}],"predecessor-version":[{"id":26682,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/26681\/revisions\/26682"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/7289"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}