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Weather and Demand Support Natural Gas Prices Natural gas price rise
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 September delivery rose by 1.79% and closed at $2.84 per MMBtu (British thermal units in millions) on August 10, 2015. Prices rose due to the consensus of rising demand led by a warm weather forecast. ETFs like the United States Natural Gas Fund LP ETF (UNG) also mirrored the footsteps of natural gas prices. UNG rose by 1.42% and settled at $13.60 on August 10, 2015.
Warm weather estimates across the southern parts of the US boosted natural gas prices. The weather is expected to be warmer than normal across the southern and central parts of the US through August 15, 2015. The warm weather will increase the demand for air conditioning. It will increase the natural gas demand and support natural gas prices.
The EIA (U.S. Energy Information Administration) will release the next natural gas inventory report on August 13, 2015. The EIA reported that natural gas inventories rose by 32 Bcf (billion cubic feet) for the week ending July 31, 2015. The consensus of the rising stockpile will add pressure to natural gas prices.
Natural gas prices rose for the sixth time in the last ten days. Prices fell by 0.54% more on the down days than on the up days. Natural gas prices had an average performance with respect to other commodities in yesterday’s trade. Prices fell by 1.97% YTD (year-to-date) due to oversupply concerns.
The uncertainty in the natural gas market impacts oil and gas producers like Cabot Oil & Gas (COG), Rice Energy (RICE), and Southwestern Energy (SWN). They account for 2.69% of the SPDR Oil and Gas ETF (XOP). These companies have a natural gas production mix that’s more than 86% of their production portfolio.
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Cabot Oil & Gas Corporation
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CODE : COG |
ISIN : US1270971039 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Cabot Oil & Gas est une société d’exploration minière de pétrole basée aux Etats-Unis D'Amerique. Cabot Oil & Gas est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 10,2 milliards US$ (9,0 milliards €). La valeur de son action a atteint son plus bas niveau récent le 26 mars 2004 à 10,00 US$, et son plus haut niveau récent le 14 janvier 2022 à 22,20 US$. Cabot Oil & Gas possède 460 786 236 actions en circulation. |