Gassers are drawing a lot of attention - May 4
Posted: Mon May 04, 2020 1:52 pm
Rising natural gas prices are a hot bet . Wall Street Journal
Natural gas prices are flaring up.
Investors, who just weeks ago shunned the fuel and the companies that sell it, are unwinding wagers that prices will fall, bidding up producers’ beaten-down shares and even buying their new bonds. The reason for optimism: The historic collapse in crude prices thanks to the new coronavirus has energy producers racing to close oil wells, which will also lower natural gas supplies in the U.S.
How natural gas is withstanding the energy market collapse . Washington Examiner
Natural gas is withstanding the coronavirus-fueled economic crash in a way that its closely associated relative, oil, isn’t. Oil prices have reached record lows, with the U.S. benchmark oil price briefly dropping below zero last month after trading at around $60 per barrel at the start of 2020. The U.S. natural gas price, meanwhile, is stable, staying below $2 per million British thermal units, or MMBtu, a historically low level it has been hovering at for a while due to a glut produced from the shale boom. But...energy traders are bidding up the NYMEX futures prices for the next winter heating season (Jan NYMEX contract for ngas now trading above $3.10/mcf) and publicly traded natural gas company stocks are red hot.
Natural gas prices are flaring up.
Investors, who just weeks ago shunned the fuel and the companies that sell it, are unwinding wagers that prices will fall, bidding up producers’ beaten-down shares and even buying their new bonds. The reason for optimism: The historic collapse in crude prices thanks to the new coronavirus has energy producers racing to close oil wells, which will also lower natural gas supplies in the U.S.
How natural gas is withstanding the energy market collapse . Washington Examiner
Natural gas is withstanding the coronavirus-fueled economic crash in a way that its closely associated relative, oil, isn’t. Oil prices have reached record lows, with the U.S. benchmark oil price briefly dropping below zero last month after trading at around $60 per barrel at the start of 2020. The U.S. natural gas price, meanwhile, is stable, staying below $2 per million British thermal units, or MMBtu, a historically low level it has been hovering at for a while due to a glut produced from the shale boom. But...energy traders are bidding up the NYMEX futures prices for the next winter heating season (Jan NYMEX contract for ngas now trading above $3.10/mcf) and publicly traded natural gas company stocks are red hot.