Natural gas prices climb 8.3% early afternoon in NY to $5.565/mmBtu, putting them on course to close with the biggest one-day percentage increase since Feb. 1, when prices climbed 11.2%.
"With global supplies of oil and natural gas tightening due to concerns about fuel switching, I think the market is starting to wake up to the fact that we have a potential structural shortage for natural gas," says Price Futures' Phil Flynn. With today's surge, prices are now well more than double what they were at the start of the year, and are on track to close today at the highest level since Feb. 21, 2014.
(dan.molinski@wsj.com)
(END) Dow Jones Newswires
September 27, 2021 12:29 ET (16:29 GMT)
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