| Natural Gas Prices Are Nearly Flat despite Warm Weather Estimates | |
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Natural Gas Prices Are Influenced by Supply and Demand Estimates Natural gas price movement
This series analyzes natural gas prices and fundamentals. For an in-depth fundamental look at oil and gas and related companies, sectors, and drivers, please refer to our Energy and Power page.
Natural gas futures contracts for October delivery rose slightly by 0.13%. They were trading at $2.65 per MMBtu (British thermal units in millions) on September 7, 2015, in the electronic session in NYMEX. Prices were almost flat despite the warm weather forecast. ETFs like the United States Natural Gas Fund LP ETF (UNG) didn’t trade because the markets were closed due to the Labor Day holiday on Monday.
Weather estimates suggest that warm weather is expected across the southern parts of the US over the next few days. In contrast, mild weather is expected across Great Lakes, Northeast, and Midwest regions throughout the week. Warm weather could increase the air conditioning needs and support natural gas prices in the short term.
The EIA (U.S. Energy Information Administration) published that the natural gas stockpile rose by 94 Bcf (billion cubic feet) for the week ending August 28, 2015. The next EIA natural gas inventory report is expected to release on September 10, 2015. The consensus of rising natural gas stocks will continue to put downward pressure on natural gas prices.
This is the fifth down day for natural gas prices in the last ten days. Prices fell by 0.32% more on the down days than on the up days, over the same period. Natural gas prices fell by more than 8% YTD (year-to-date) due to the record natural gas inventory.
US upstream players like Cabot Oil & Gas (COG), EQT (EQT), and Rice Energy (RICE) are negatively impacted by falling natural gas prices. Combined, they account for 2.94% of the SPDR Oil and Gas ETF (XOP). These stocks’ natural gas production mix is more than 86% of their total production.
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Cabot Oil & Gas Corporation
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CODE : COG |
ISIN : US1270971039 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Cabot Oil & Gas is a oil exploration company based in United states of america. Cabot Oil & Gas is listed in Germany and in United States of America. Its market capitalisation is US$ 10.2 billions as of today (€ 9.0 billions). Its stock quote reached its lowest recent point on March 26, 2004 at US$ 10.00, and its highest recent level on January 14, 2022 at US$ 22.20. Cabot Oil & Gas has 460 786 236 shares outstanding. |