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Natural Gas Hits $3 per MMBtu despite Record Inventories Natural gas prices rally
This series provides an analysis of natural gas prices and fundamentals. For an in-depth look at natural gas and related companies, sectors, and drivers, please refer to our Energy and Power page.
Natural gas futures for June delivery rose by 2.49% on Thursday. Gas prices surged due to warm weather estimates and closed at $3 per MMBtu (British thermal units in millions) on May 12, 2015. The US benchmark that follows ETFs such as the United States Natural Gas Fund LP ETF (UNG) also mirrored the price movement of natural gas prices. UNG rose by 2.95% and closed at $14.84 on May 14.
The EIA (U.S. Energy Information Administration) published the natural gas storage report on May 14, 2015. The weekly gas in storage increased by 111 Bcf (billion cubic feet) in the week ending May 8. Market consensus had been for an increase of 117 Bcf during this period. The lower-than-expected inventory increase supported the natural gas price increase. The gas stockpile increased by 76 Bcf in the week ending May 1.
Warmer weather forecasts across central and eastern parts of the United States in the second half of May 2015 also supported the natural gas rally. Cooling needs will drive the demand for natural gas from electrical power plants.
This is the fifth up day in the last ten days. Prices gained 1.85% more on the up days than on the average down days in this period. June natural gas futures ruled the chart against other commodities on yesterdays’s trading. Gas prices increased by 0.59% YTD (year-to-date), led by the warmer weather forecasts.
Volatility in natural gas prices affects oil and gas stocks like Cimarex Energy (XEC), Southwestern Energy (SWN), and Devon Energy (DVN), whose natural gas production mix makes up more than 46% of total production portfolios. These companies account for 3.57% of the SPDR Oil & Gas Exploration & Production ETF (XOP).
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Devon Energy Corporation
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CODE : DVN |
ISIN : US25179M1036 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Devon Energy est une société de production minière et de pétrole basée aux Etats-Unis D'Amerique. Devon Energy détient divers projets d'exploration au Canada. Son principal projet en exploration est JACKFISH OIL SANDS PROJECT au Canada. Devon Energy est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 27,6 milliards US$ (25,7 milliards €). La valeur de son action a atteint son plus bas niveau récent le 18 août 1995 à 10,00 US$, et son plus haut niveau récent le 22 février 2008 à 99,19 US$. Devon Energy possède 525 000 000 actions en circulation. |