ETC Natural Gas (10 lettori)
- Creatore Discussione NEO_99
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NEO_99
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NEW YORK (Dow Jones)--Natural-gas futures ended at their highest levels in 11 weeks Thursday after traders scrambled to adjust their positions after a report of a second consecutive smaller-than-expected weekly build in U.S. inventories.
Natural gas for May delivery settled 10.2 cents, or 2.4%, higher, at $4.412 a million British thermal units on the New York Mercantile Exchange, the highest ending price since Feb. 2.
The Energy Information Administration said U.S. natural-gas stockpiles rose by 47 billion cubic feet last week, short of estimates for a 51-bcf build in a Dow Jones Newswires survey.
"That seemed to get natural gas going," said Tom Bentz, director at BNP Paribas Commodity Futures.
The injection was the second consecutive weekly build to come in below market expectations. The likelihood that the market had been underestimating gas demand spurred some traders who had bet that prices would fall to buy back those positions Thursday.
The injection reflects "a tighter than expected supply [and] demand balance," said Tim Evans, an analyst with Citi Futures Perspective, in an emailed note.
An unusually large amount of nuclear-power generation was out of service for maintenance and refueling last week, Evans said, likely increasing demand for natural gas. Natural gas-fired power stations are typically called upon to meet the added demand when nuclear plants are taken offline.
The injection was larger than the 34-bcf five-year average build, but fell short of last year's 75-bcf increase.
Inventories typically increase from April through October, as companies stock up for winter's heating needs.
U.S. natural gas in storage as of April 15 stood at 1.654 trillion cubic feet, 1.4% above the five-year average, and 9.1% below 2010 levels.
The number of drilling rigs targeting natural gas in the U.S. fell by seven this week to 878, the third consecutive weekly decline, Baker Hughes Inc. (BHI) said Thursday.
Analysts have kept a close watch on the natural gas rig count for signs that producers are pulling back to limit supply growth. The current pace of drilling is still widely seen leading to further production gains.
The benchmark futures contract has ended higher for two consecutive days, supported by the view that warm weather in the South would increase the need for natural gas-fired electricity to cool homes and businesses.
Weather-driven natural-gas demand typically declines with spring's mild weather, but daily highs above 90 degrees this week in parts of Texas and the Gulf Coast caught the market's attention.
Natural gas for May delivery settled 10.2 cents, or 2.4%, higher, at $4.412 a million British thermal units on the New York Mercantile Exchange, the highest ending price since Feb. 2.
The Energy Information Administration said U.S. natural-gas stockpiles rose by 47 billion cubic feet last week, short of estimates for a 51-bcf build in a Dow Jones Newswires survey.
"That seemed to get natural gas going," said Tom Bentz, director at BNP Paribas Commodity Futures.
The injection was the second consecutive weekly build to come in below market expectations. The likelihood that the market had been underestimating gas demand spurred some traders who had bet that prices would fall to buy back those positions Thursday.
The injection reflects "a tighter than expected supply [and] demand balance," said Tim Evans, an analyst with Citi Futures Perspective, in an emailed note.
An unusually large amount of nuclear-power generation was out of service for maintenance and refueling last week, Evans said, likely increasing demand for natural gas. Natural gas-fired power stations are typically called upon to meet the added demand when nuclear plants are taken offline.
The injection was larger than the 34-bcf five-year average build, but fell short of last year's 75-bcf increase.
Inventories typically increase from April through October, as companies stock up for winter's heating needs.
U.S. natural gas in storage as of April 15 stood at 1.654 trillion cubic feet, 1.4% above the five-year average, and 9.1% below 2010 levels.
The number of drilling rigs targeting natural gas in the U.S. fell by seven this week to 878, the third consecutive weekly decline, Baker Hughes Inc. (BHI) said Thursday.
Analysts have kept a close watch on the natural gas rig count for signs that producers are pulling back to limit supply growth. The current pace of drilling is still widely seen leading to further production gains.
The benchmark futures contract has ended higher for two consecutive days, supported by the view that warm weather in the South would increase the need for natural gas-fired electricity to cool homes and businesses.
Weather-driven natural-gas demand typically declines with spring's mild weather, but daily highs above 90 degrees this week in parts of Texas and the Gulf Coast caught the market's attention.
Zio paperone
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Jackkinoparson
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Auguri di Buona Pasqua ...
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pierfransis
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Bella sòla, la borsa Italiana chiusa oggi.
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