Natural gas prices moved higher on Thursday rising near 5%, following the Energy Department Inventory report. Hurricane Laura has been downgraded to a category 1 storm after making landfall as a category 4 hurricane, which landed near Lake Charles Louisiana. Installations in the Gulf of Mexico are without manpower, having been halted which reduced the Gulf of Mexico production by 45%. The weather in the mid-west is expected to be cooler than normal which should increase heating demand.
Natural gas prices moved higher after testing lower levels on Thursday. Target resistance is seen near the November 2018 highs at 2.90.
Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago.