uploads///morning _

How Natural Gas Prices Have Affected COG and Other Energy Stocks


Jun. 14 2019, Updated 3:36 p.m. ET

Natural gas’s fall and energy stocks

Natural gas July futures fell 2.6% yesterday and settled at $2.325 per MMBtu (million British thermal units), just above their three-year low, despite bullish inventory data and demand expected to rise next week. Meanwhile, Cabot Oil and Gas (COG), Antero Resources (AR), and EQT (EQT) rose 0.8%, 2.1%, and 2.3%, respectively. They were the weakest among natural gas–weighted stocks, which rose 2.8% on average despite weak natural gas prices. Oil prices rose 2.2%, boosting COG, AR, EQT, and other natural gas-weighted stocks.

Article continues below advertisement

Natural gas on June 14

As of 4:21 AM Eastern Time today, natural gas active futures had risen ~0.4%. Yesterday, the U.S. Energy Information Administration reported that natural gas inventories rose 102 Bcf (billion cubic feet), missing analysts’ expectation by 7 Bcf. The rise could help natural gas prices recover.

Production and demand data

Due to rising temperatures, Refinitiv expects demand in the lower 48 US states to rise by 2 Bcf per day next week from this week’s expected demand of 80.1 Bcf. It estimates US natural gas supplies will rise to 96.6 Bcf per day from 96.2 Bcf per day this week. As demand outpaces production growth, natural gas prices could rise next week.


More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.