Natural Gas prices move higher

Natural gas futures are adding to yesterday’s modest gains ahead of the EIA’s weekly storage report. Overnight weather forecasts were mixed with some readings a little colder, but prospects remain for above-normal temperatures over the next two weeks, NatGasWeather.com says in a note.

Yesterday’s gains were more likely a technical bounce, with some help from the Fed that lifted commodities more broadly, the forecaster adds. Fed officials projected 75 basis points of interest-rate cuts in 2024. The EIA is due to release its weekly storage report at 10:30 a.m. EST, which is expected to show a below-average 50-Bcf draw on inventories, according to a Wall Street Journal survey. Natural gas for January delivery is up 2.1% at $2.384/mmBtu.

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

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Touchstone Exploration

More articles like this

Touchstone Exploration

Touchstone Exploration maximise energy potential

Touchstone Exploration’s expanding exploration portfolio boasts 137,312 acres, with strategic assets such as Ortoire and Cipero holding significant potential for energy resources and long-term growth.

Touchstone Exploration

Touchstone Exploration advances growth in Trinidad

Touchstone Exploration solidifies its position in Trinidad’s energy sector with the recent acquisition of the Rio Claro block through its subsidiary, Primera Oil and Gas. Exciting new opportunities await.