Natural gas futures Friday had the trajectory of a hot-air balloon without enough fuel to remain off the ground. Prices rose initially but ended the day in negative territory as efforts by local and short-term traders to push the market higher failed. The April contract fell $0.038 to $7.290 and the May contract slipped $0.010 to $7.457.
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Study: $39B to Be Spent on Global LNG Infrastructure in Next 4 Years
Worldwide spending on the liquefied natural gas (LNG) business is expected to balloon by $39 billion over the next four years, as LNG developers add new liquefaction trains, build new LNG ships and add new LNG import terminals in order to meet growing demand that is led by the United States, according to a new report by UK-based Douglas-Westwood Ltd.
Study: $39B to Be Spent on Global LNG Infrastructure in Next 4 Years
Worldwide spending on the liquefied natural gas (LNG) business is expected to balloon by $39 billion over the next four years, as LNG developers add new liquefaction trains, build new LNG ships and add new LNG import terminals in order to meet growing demand that is led by the United States, according to a new report by UK-based Douglas-Westwood Ltd.
Storage at All-Time High; Year-on-Year Deficit Climbing
Natural gas storage levels are at an all-time high and the year-on-year storage deficit, which currently stands at 484 Bcf, is likely to balloon to more than 600 Bcf by mid-December, causing further downward pressure on spot prices, said Ronald Barone, a gas analyst with UBS Warburg.