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    Home » Soaring Natural Gas Price Causes Worry ahead of the Winter Season
    Forex News

    Soaring Natural Gas Price Causes Worry ahead of the Winter Season

    September 20, 20211 Min Read
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    US natural gas closed last week at $5.105 per British thermal unit, about double in half a year period and up 17% in September as inventory drawdowns worsened.

    natural gas

    Fig: Natural Gas Futures Price

    • Soaring natural gas prices are now causing worries about further shortages in the winter heating season. 
    • Whereas the US is in an offseason for demand currently, a series of weather events have depleted supplies leading to a supply-demand imbalance. 
    • The rise in natural gas prices is a challenge for the US, as rock-bottom prices have supported the economy since the financial crisis. The prices have now risen by the highest since 2014’s blizzards froze in the Northeast.
    • Analysts now see natural gas prices reaching unknown heights in the winter, with further forecasts to hit the costliest levels in more than a decade. 

    Natural gas drilling rigs have remained the same since spring, despite the uptick in prices.

    NG1! Is down -2.38%Source: WSJ

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