From Investing.com: 2024-10-02 05:06:00

Prices have surged due to Hurricane Helena, leading to 93 deaths and 2.4 million without power. Natural gas prices are nearing $3 per MMBtu with lower additions projected by the EIA.

Hurricane Helena disrupts gas production, causing a 30% price increase. Supply-and-demand dynamics, warm temperatures, and economic growth fuel further gains, creating potential for prices to rise above $3 per MMBtu.

EIA forecasts rising gas prices to reach $3.36 per MMBtu by late 2022. Increased LNG exports and potential storm disruptions are key drivers of this trend.

Henry Hub faces resistance levels at $3.10 and $3.40 per MMBtu with support at $2.65 and $2.45 per MMBtu. Investors are cautioned that investing in assets carries significant risks and should be approached with caution.



Read more at Investing.com: Natural Gas: Helena’s Havoc, Falling Storage Set Stage for a Push Above $3 Barrier