It appears the harsh winter has driven up demand for natural gas.
On Feb. 19 the Energy Information Administration (EIA) recorded a natural gas futures price of $6.149/mmBtu. That’s up roughly $1.33/mmBtu from the prior week and up roughly $2.88/mmBtu from one year earlier.
The price is rounded off to the nearest cent.
On Feb. 14 EIA listed natural gas inventories of 1,443 Bcf. That’s down 250 Bcf from a week earlier and down 975 Bcf from year earlier.
In early February, the Federal Energy Regulatory Commission (FERC) approved three projects to increase natural gas takeaway capacity from the Marcellus shale formation, EIA said in its latest natural gas weekly update.
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This article was republished with permission from GenerationHub.