The price of natural gas, represented by October Nymex natural gas (NGV23), experienced a significant surge on Tuesday with a gain of +0.120 (+4.40%). This increase follows Monday’s strong rally of +3.18%. The surge in natural gas prices can be attributed to several factors, including the latest report from the Energy Information Administration (EIA). According to the EIA’s monthly Drilling Productivity Report, gas production from U.S. shale basins is expected to decrease slightly in October compared to September. This forecast has contributed to the upward momentum in natural gas prices.
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Natural Gas Prices Soar Due to Favorable Weather and European Support
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