“`html
On Friday, October Nymex natural gas closed at $2.979, up $0.007 (+0.24%). This increase came after prices recovered from a 1.5-week low, driven by forecasts of warmer temperatures in the South and mid-continent from September 17-21, which are expected to boost demand from electricity providers.
U.S. natural gas production is currently near record highs, with a reported output of 108.0 billion cubic feet per day (bcf/day) as of Friday, marking a 7.1% increase year-on-year. The Energy Information Administration (EIA) has also raised its 2025 forecast for U.S. natural gas production by 0.2% to 106.63 bcf/day. Meanwhile, natural gas inventories have increased by 71 bcf for the week ending September 5, exceeding market expectations.
As of September 9, U.S. natural gas storage levels were 6.0% above their 5-year seasonal average, while gas storage in Europe was reported at 80% full, compared to a 5-year average of 86% for this time of year. Additionally, the number of active U.S. natural gas drilling rigs remained unchanged at 118 this week, slightly below the 2-year high of 124 rigs.
“`
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
