1007 ET – Natural gas futures rose in early trading Thursday, rebounding after a retreat caused by a slightly larger-than-expected weekly storage build. Market attention turned to Hurricane Isaias, which introduced mixed effects: small offshore production losses were offset by demand destruction from power outages and flooding. LNG exports are expected to decrease due to shipping delays.
According to Nat Gas Weather.com, the storm will not significantly add to lost cooling demand as temperatures are already relatively comfortable. Nymex natural gas climbed 1% to $3.201 per mm Btu.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing