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Barchart
Barchart
Rich Asplund

Nat-Gas Prices Rally on Expectations of a Shrinking US Gas Surplus

October Nymex natural gas (NGV26) on Wednesday closed up +0.058 (+1.96%).

Nat-gas prices rallied to a 2.5-month nearest-futures high on Wednesday and settled sharply higher on the outlook for a shrinking US gas storage surplus. The consensus is that Thursday’s EIA nat-gas inventories for the week ended September 18 rose by +51 bcf, well below the five-year average for the week of +76 bcf, which should shrink the surplus that currently stands at 3.7% above the five-year seasonal average.

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