US natgas futures fall 3% as West Virginia pipe returns
October US natural gas futures fell 3.2% to $3.095 per mmBtu as the Mountaineer XPress pipe in West Virginia returned to service. Northeast spot prices also dropped below $1 per mmBtu, with New York, New England and the Mid-Atlantic hitting multi-year lows.
4% above five-year norm before Thursday's EIA report Nor'easter knocks Northeast spot prices below $1, with regional lows spanning 2020-2023 By Scott DiSavino NEW YORK, Sept 28 (Reuters) — US natural gas futures fell about 3% on Monday on expectations daily output will soon rise with the return to service of the Mountaineer XPress pipe in West Virginia over the weekend, while spot prices in the Northeast dropped to multi-year lows over a stormy weekend. 095 per million British thermal units (mmBtu). 13 per mmBtu.
In the spot market, next-day spot prices fell below $1 per mmBtu in New York (lowest since 2020), New England (lowest since 2022) and the Mid-Atlantic (lowest since 2023) as demand for the fuel fell with a powerful nor'easter storm hitting the region over the weekend. 3 bcfd in August. 5 bcfd on Monday, due in part to work on the Mountaineer XPress pipe in West Virginia. Canadian energy firm TC Energy's Columbia Gas Transmission unit lifted the force majeure on its Mountaineer XPress pipe on Sunday, a sign that more gas will flow out of the Marcellus/Utica shale region in coming days.
8 bcfd of gas flows, due to a mechanical issue. 7% above normal in April. But hotter-than-normal weather over the summer forced energy firms to pull lots of gas from storage to produce the power needed to keep air conditioners humming, cutting the inventory surplus. About 40% of US power generation comes from gas-fired plants.
9% above normal the previous week, according to estimates ahead of Thursday's weekly federal inventory report. EIA/GAS NGAS/POLL Looking forward, however, meteorologists have predicted the weather will remain mostly near normal through October 13. 3 bcfd next week. Those forecasts were similar to LSEG's outlook on Friday.
9 bcfd in April. net/)