U.S. natural gas futures touch $10 for first time since 2008
U.S. natural gas prices ...
U.S. natural gas prices punched through $10/MMBtu for the first time since 2008, continuing to follow surging European prices as supply fears are heightened by Russia's plan to halt gas flows on the Nord Stream 1 pipeline to Germany for three days of maintenance.
Nymex front-month natural gas futures (NG1:COM) +3.1% to $9.969/MMBtu after briefly touching $10.01/MMBtu in the overnight session.
The U.S. natural gas market has seen prices surge by nearly 20% this month and have nearly tripled since January 1, due largely to soaring prices in Europe that are taking a bit of a breather on Tuesday after skyrocketing in recent days.
The $10/MMBtu level might be a near-term top with some profit-taking at that level, Price Futures' Phil Flynn said.
Oil prices rebound, natural gas lingers at 14-year high as supply worries bite
Crude oil futures climbed on Tuesday while U.S. natural gas prices traded at a fresh 14-year...
Crude oil futures climbed on Tuesday while U.S. natural gas prices traded at a fresh 14-year high as Europe’s looming energy crisis impacted prices across the Atlantic.
West Texas Intermediate crude for October delivery CLV22, +3.50% advanced $1.06, or 1.2%, to $91.30 per barrel on the New York Mercantile Exchange.
October Brent crude BRNV22, +2.91% gained 95 cents, or 1%, to $95.79 per barrel on ICE Futures Europe.
Back on Nymex, September gasoline prices RBU22, +0.66% retreated 1 cent, or 0.6%, to $2.67 per gallon while September heating oil HOU22, +0.66% fell 1 cent to $3.73 per gallon.
September natural-gas prices NGU22, +3.20% climbed 5 cents, or 0.5%, to $9.70 per million British thermal units, the highest for a front-month contract since July 2008, according to Dow Jones Market Data.
Beware of a ‘bear trap’ retreat in stocks after the big summer rally, strategists warn
It looks like a “bear trap” may be lurking in this summer’s big bounce for the...
It looks like a “bear trap” may be lurking in this summer’s big bounce for the stock market, one that could lead to painful losses for investors, Glenmede strategists warned in a Monday report.
Investors already appear to be reconsidering some factors of this summer’s powerful rebound, including rethinking hopes that the Federal Reserve may not hike interest rates as aggressively as previously thought.
'Limited' oil and gas capacity could send prices higher in 2023, analyst
Oil prices could spike again by the beginning of 2023, says one analyst. "Domestically, whether it's...
Oil prices could spike again by the beginning of 2023, says one analyst.
"Domestically, whether it's oil or it's gas, these companies have very very limited incremental capacity at this time," Truist Securities Managing Director of Energy Research Neal Dingmann told Yahoo Finance Live.
There are now two disturbances in the Atlantic. What the forecast shows
Forecasters are now watching two disturbances in the Atlantic. ...
Forecasters are now watching two disturbances in the Atlantic. The National Hurricane Center began monitoring the new disturbance Tuesday morning. It’s forecast to move off the west coast of Africa in a couple of days, according to the hurricane center’s 8 a.m. advisory.
The system, a tropical wave, could see some slow development later this week or over the weekend as it quickly moves west, according to the hurricane center. It has a 0% chance of formation through the next 48 hours and a low 20% chance through the next five days.
The other disturbance, which forecasters started monitoring a few days ago, is causing minimal showers several hundred miles west of the Cabo Verde Islands, according to the hurricane center.
