Natural Gas Prices Slide To 3-Week Low; New Yorkers Won't See Benefit -- September 26, 2019

Link here.

Meanwhile:

Natural gas prices slide 3% to a three-week low. Link here.

Natural-gas prices fell Thursday after government data showed U.S. stockpiles rose more than analysts expected.

Front-month natural-gas futures declined 3% to $2.428 per million British thermal units, a three-week low, after the Energy Information Administration, or EIA, reported that natural-gas inventories last week surged by 102 billion cubic feet, compared with the 89 billion cubic feet that analysts surveyed by The Wall Street Journal had predicted.

“We had thought the number would be smaller because a lot of the country has been experiencing unusual, late-season heat,” said Kent Bayazitoglu, director of market analytics at Gelber & Associates. Natural-gas demand tends to rise when more people use their air conditioners in the summer and heaters in the winter.

By the way, when one reads the articles very, very closely regarding the situation in New York City / New Jersey, one gets the feeling there is much more to this story than simply a bunch of rabble-rousers who are trying to stop expansion of a pipeline where there are already many pipelines. Something tells me there's a bit of "something else" going on. Whenever my granddaughters ask me something they don't understand, I tell them to google it or follow the money. In this case (the NYC/New Jersey natural gas pipeline story) I suggest following the money.