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gasfacts2019

Skirmishes over natural gas shortages in New York City are intensifying as the winter heating season nears, with one distributor insisting that it can’t serve thousands of new customers without more infrastructure and policymakers pushing for answers.

Natural gas futures rallied decisively for a second straight session Wednesday, putting bears on the run as the market begins to look ahead to winter. After picking up more than 7 cents a day earlier, the October Nymex futures contract surged another 8.7 cents to settle at $2.445/MMBtu. November added 9.5 cents to settle at $2.492.

After rallying sharply earlier in the week, and with the market shifting its focus to the latest Energy Information Administration (EIA) storage data, natural gas futures were trading slightly lower early Thursday. The October Nymex futures contract was down 1.7 cents to $2.428/MMBtu shortly after 8:30 a.m. ET.

Completions expert Nine Energy Service Inc. is slimming down its workforce by almost one-quarter by selling its production solutions segment to cross-town operator Brigade Energy Services LLC.

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