AIRLINK 217.98 Decreased By ▼ -4.91 (-2.2%)
BOP 10.93 Increased By ▲ 0.11 (1.02%)
CNERGY 7.55 Decreased By ▼ -0.01 (-0.13%)
FCCL 34.83 Decreased By ▼ -2.24 (-6.04%)
FFL 19.32 Increased By ▲ 0.08 (0.42%)
FLYNG 25.15 Decreased By ▼ -1.89 (-6.99%)
HUBC 131.09 Decreased By ▼ -1.55 (-1.17%)
HUMNL 14.56 Decreased By ▼ -0.17 (-1.15%)
KEL 5.18 Decreased By ▼ -0.22 (-4.07%)
KOSM 7.36 Decreased By ▼ -0.12 (-1.6%)
MLCF 45.63 Decreased By ▼ -2.55 (-5.29%)
OGDC 222.08 Decreased By ▼ -1.18 (-0.53%)
PACE 8.16 Decreased By ▼ -0.02 (-0.24%)
PAEL 44.19 Increased By ▲ 0.69 (1.59%)
PIAHCLA 17.69 Decreased By ▼ -0.37 (-2.05%)
PIBTL 8.97 Decreased By ▼ -0.10 (-1.1%)
POWERPS 12.51 Decreased By ▼ -0.50 (-3.84%)
PPL 193.01 Decreased By ▼ -5.23 (-2.64%)
PRL 43.17 Increased By ▲ 0.93 (2.2%)
PTC 26.63 Decreased By ▼ -0.76 (-2.77%)
SEARL 107.08 Decreased By ▼ -3.00 (-2.73%)
SILK 1.04 Decreased By ▼ -0.02 (-1.89%)
SSGC 45.00 Decreased By ▼ -2.30 (-4.86%)
SYM 21.19 Increased By ▲ 0.42 (2.02%)
TELE 10.15 Decreased By ▼ -0.37 (-3.52%)
TPLP 14.51 Decreased By ▼ -0.44 (-2.94%)
TRG 67.28 Decreased By ▼ -1.57 (-2.28%)
WAVESAPP 11.29 Decreased By ▼ -0.63 (-5.29%)
WTL 1.70 Decreased By ▼ -0.09 (-5.03%)
YOUW 4.25 Decreased By ▼ -0.10 (-2.3%)
BR100 12,397 Increased By 33.3 (0.27%)
BR30 37,347 Decreased By -871.2 (-2.28%)
KSE100 117,587 Increased By 467.3 (0.4%)
KSE30 37,065 Increased By 128 (0.35%)

NEW YORK: US natural gas futures spiked on Monday to their highest since March 2019 as the amount of gas flowing to liquefied natural gas (LNG) export plants jumps with units returning in Louisiana after Hurricane Delta and in Maryland after maintenance work.

Traders also noted prices were up on forecasts for colder weather and higher heating demand over the next two weeks and with output on track to drop to its lowest since July 2018 due mostly to well shut-ins for Delta.

Delta slammed into the Louisiana coast late Friday, causing over 878,000 customers to lose power. There were about 224,000 homes and businesses still without service Monday morning, mostly in Louisiana.

Front-month gas futures rose 14.0 cents, or 5.1%, to settle at $2.881 per million British thermal units, their highest close since March 2019. Data provider Refinitiv said output in the Lower 48 US states would slide from a 26-month low of 82.4 billion cubic feet per day (bcfd) over the weekend to a preliminary 82.0 bcfd on Monday due to the Delta shut-ins.

The US Bureau of Safety and Environmental Enforcement said energy firms started to return offshore production in the Gulf of Mexico. BSEE said that output was now curtailed by 1.3 bcfd, down from 1.7 bcfd on Sunday. In Louisiana, the Cameron and Sabine Pass LNG export plants both took in more pipeline gas over the weekend and tankers started to return to Sabine. There is also at least one vessel waiting in the Gulf of Mexico to go to Cameron, according to Refinitiv data.

Comments

Comments are closed.