DJ Big Storage Addition Takes Fear Out of Natural Gas -- Market Talk
11:20 EDT - Natural gas producers just made their largest weekly addition to stockpiles for September and the
12th-largest addition for any month, according to EIA records that date to 1993. The news took another 2% out of a
market that was already in retreat. The gas boom is producing a record rate of surpluses this year. With stockpiles now
at 3.1 trillion cubic feet, they are likely to be near normal to start the winter, decreasing the risk of severe price
spikes from any surge in demand for home heating. "A lot of the huge fear about no gas in storage (for the winter)
might be a little bit overblown," says Aaron Calder at energy-consulting firm Gelber & Associates. (tim.puko@wsj.com)
(END) Dow Jones Newswires
October 02, 2014 11:20 ET (15:20 GMT)
Copyright (c) 2014 Dow Jones & Company, Inc.
100214 15:20 -- GMT
------
No comments:
Post a Comment