Natural gas prices rise for the third time in the past four sessions, climbing a solid 3.2% to end at $2.728/mmBtu.
Reports indicating Freeport LNG began resuming normal feedgas intake flows on Friday after equipment-related disruptions early last week have sparked some buying interest in natural gas. Investors are also encouraged by the market’s ability to shed most of an inventory surplus that back in March was a glut-like 24% above normal. The overhang is now only 6.8% above normal and may be reduced further if analysts forecasts for another below-normal injection in this coming Thursday’s EIA storage data prove correct.
Diversified Energy Company plc (LON:DEC), formerly Diversified Gas & Oil plc, is a gas and oil production company operating in the Appalachian Basin in the United States.
