U.S. Natural Gas Futures Rise Ahead of Storage Data -- Market Talk

Dow Jones09-26

1510 ET - U.S. natural gas futures rise for the fourth time in five sessions with the market awaiting weekly storage numbers that are expected to show another reduction in the inventory surplus. Storage likely increased by 53 Bcf last week, according to a Wall Street Journal survey of analysts. That's less than the 88 Bcf five-year average for the week, and would lower the surplus to 239 Bcf from 274 Bcf the week before. "Looking beyond tomorrow's report, reduced production remains conducive toward additional contraction in the supply overhang through the remainder of this injection cycle, roughly the next six weeks," Ritterbusch says in a note. The October contract settles up 3.4% at $2.637/mmBtu ahead of Thursday's expiration. November gas edges up 0.9% to $2.817. (anthony.harrup@wsj.com)

(END) Dow Jones Newswires

September 25, 2024 15:10 ET (19:10 GMT)

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That's less than the 88 Bcf five-year average for the week, and would lower the surplus to 239 Bcf from 274 Bcf the week before. \"Looking beyond tomorrow's report, reduced production remains conducive toward additional contraction in the supply overhang through the remainder of this injection cycle, roughly the next six weeks,\" Ritterbusch says in a note. The October contract settles up 3.4% at $2.637/mmBtu ahead of Thursday's expiration. November gas edges up 0.9% to $2.817. 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