Natural gas futures price up nearly $3 in a year’s time

Gas inventories are also down, EIA reports

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It appears the harsh winter has driven up demand for natural gas.

On Feb. 19 the Energy Information Administration (EIA) recorded a natural gas futures price of $6.149/mmBtu. That’s up roughly $1.33/mmBtu from the prior week and up roughly $2.88/mmBtu from one year earlier.

The price is rounded off to the nearest cent.

On Feb. 14 EIA listed natural gas inventories of 1,443 Bcf. That’s down 250 Bcf from a week earlier and down 975 Bcf from year earlier.

In early February, the Federal Energy Regulatory Commission (FERC) approved three projects to increase natural gas takeaway capacity from the Marcellus shale formation, EIA said in its latest natural gas weekly update.

More details can be found at http://www.eia.gov/naturalgas/weekly/.

Wayne Barber
About the Author

Wayne Barber

Wayne Barber, Chief Analyst for the GenerationHub, has been covering power generation, energy and natural resources issues at national publications for more than 20 years. Prior to joining PennWell he was editor of Generation Markets Week at SNL Financial for nine years. He has also worked as a business journalist at both McGraw-Hill and Financial Times Energy. Wayne also worked as a newspaper reporter for several years. During his career has visited nuclear reactors and coal mines as well as coal and natural gas power plants.

Wayne can be reached at wayneb@pennwell.com.

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