Market Watch

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The June Nymex gas futures contract shot to $2.529 per million Btu in early trading Friday after TC Energy's 3,376-mile Columbia Gulf Transmission (CGT) pipeline reported that a suspected lightning strike caused a fire at a Mississippi compressor station. But prices quickly retreated as Southwestern Energy, a gas producer with operations in Appalachia and the Haynesville Shale and one of the pipeline’s major customers, told investors it expected the fire would have a limited impact on its operations. The contract settled at $2.41/MMBtu, up just 5.5¢ on the day, a signal that concerns about an oversupplied market dominate the shoulder season.

Gas Demand, Gas Inventories, Gas Supply, Gas Prices, Gas Pipelines
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