US natural gas prices jump 10% with predictions of a chilly November
Friday, October 29, 2021
Natural gas futures prices have been rising as forecasts for chilly November have increased concern that supplies will struggle to meet demand this winter, according to World Oil.
Henry Hub gas to be delivered in November gained as much as 10.7% to $5.844 per million British thermal units, marking the biggest jump in almost three weeks.
Mild October weather made it possible for producers to inject more gas into storage than usual; however, supplies of heating and power-generation fuel are still below normal. And on top of a decreased supply in storage, the U.S. is expected to export as much as it can to ease shortages of gas in Europe and Asia.
Learn more: World Oil > U.S. natural gas prices soar 10% as cold winter forecasts develop
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