Natural gas prices jump

The U.S. benchmark natural gas price reversed losses from earlier on Thursday and turned higher after the Energy Information Administration reported a smaller-than-forecast injection into storage.

As of 11:30 a.m. on Thursday, the price of natural gas at Henry Hub was up by 2.34 percent at $2.754/ MMBtu. At the start of trading on Thursday, the price was at $2.688/ MMBtu, down from Wednesday’s close at $2.776/ MMBtu.

The EIA’s weekly natural gas storage report showed today that working gas in storage was 1,883 billion cubic feet (Bcf) at the end of the week to April 16. This represents a net increase of 38 Bcf from the previous week.

Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago.

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