Natural-Gas Prices Remain Under Pressure Despite Cold Snap | EUROtoday

Get real time updates directly on you device, subscribe now.

Natural-gas costs have been low this winter, helped by wholesome manufacturing and unusually heat climate. The present winter storm might change that quickly, however the long-term forecast continues to be for extra low cost gasoline for U.S. customers—at the very least for the remainder of this yr.

The U.S. entered this winter heating season with essentially the most pure gasoline in storage since 2020. It continues to be wanting properly stocked: As of the week ended Jan. 5, there have been about 3.3 trillion cubic toes of pure gasoline in storage, 12% greater than the trailing five-year common, in line with the U.S. Energy Information Administration. Even although the chilly snap has helped transfer natural-gas costs up 7.9% yr up to now to $2.51 per million British thermal models, they continue to be about 21% beneath year-earlier ranges. Since November, the U.S. has been withdrawing pure gasoline from storage at a charge that’s 28% decrease than the trailing five-year common, in line with the EIA.

Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8