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9:51 a.m. Oct. 28, 2021 - By Myra P. Saefong
Natural-gas futures drop by nearly 7%; U.S. oil prices settle slightly higher Natural-gas futures suffered a drop of almost 7% , with prices pressured by ordered Gazprom to send more natural gas to Europe next month. Oil futures, meanwhile, finished with a modest gain, a day after losing more than 2% on news that on a nuclear deal. December natural gas fell 42 cents, or 6.7%, to settle at $5.782 per million British thermal units. West Texas Intermediate crude for December delivery rose 15 cents, or 0.2%, to settle at $82.81 a barrel on the New York Mercantile Exchange.
9:43 a.m. Oct. 27, 2021 - By Myra P. Saefong
U.S. oil futures fall by more than 2%; natural-gas futures end at more than 3-week highOil futures after the Energy Information Administration in U.S. crude inventories and amid news that Iran may soon renew talks with world powers on a nuclear deal. Iran's chief negotiator, Ali Bagheri, said Wednesday that Iran will return to nuclear discussions before the end of November, . "If this leads to the eventual withdrawal of U.S. sanctions, Iranian oil exports will rise, ending the threat of a supply shortage that has been partly the reason behind the big oil rally," said Fawad Razaqzada, market analyst at ThinkMarkets, in a market update. West Texas Intermediate crude for December delivery fell $1.99, or nearly 2.4%, to settle at $82.66 a barrel on the New York Mercantile Exchange. Natural-gas prices, meanwhile, rallied, getting a boost from some forecasts for colder weather as the November contracts expired. November natural gas rose 32 cents, or 5.4%, to settle at $6.202 per million British thermal units, the highest in just over three weeks. The new front month December contract added 20 cents, or almost 3.3%, to $6.198 per million Btus.
9:41 a.m. Sept. 15, 2021 - By Myra P. Saefong
Oil posts highest price settlement since late July; natural-gas futures up nearly 4%Oil futures on since late July after the Energy Information Administration reported a 6.4 million-barrel weekly drop in U.S. crude supplies. "Oil's rally is nowhere near over as both demand and supply drivers are still mostly bullish: further delays in making progress with the Iran nuclear deal, a cold winter, and further production disruptions from a very active hurricane season," said Edward Moya, senior market analyst at Oanda. West Texas Intermediate crude for October delivery rose $2.15, or about 3.1%, to settle at $72.61 a barrel, the highest front-month finish since July 30, according to FactSet data. The Bureau of Safety and Environmental Enforcement reported Wednesday that an estimated 29.5% of oil production and 39.4% of natural-gas production in the Gulf remains shut in following Hurricane Ida, which made landfall on the Gulf Coast on Aug. 29. Natural-gas futures also rallied, to mark another finish at the highest since February 2014. October natural gas rose 20 cents, or 3.8%, to settle at $5.46 per million British thermal units.
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