This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Natural Gas Surges on Supply Gaps

Stocks in this article: LNG CHK SSN SUG EP KMI REXX

NEW YORK ( TheStreet) -- Natural gas prices were pushing to a one-week high on favorable weather factors, supply gaps left by the start of routine nuclear maintenances and improved market sentiment due to reassuring eurozone news.

November natural gas futures were moving higher for a second consecutive day, tapping a one-week high of $3.926 per million British thermal units before retreating slightly to $3.892, up 1.2%.

"Late-summer heat is spurring on some buying interest, despite the backdrop of weak fundamentals -- strong supply or lowly demand," Summit Energy analyst Matt Smith noted.

Cameron Hanover analysts agreed, saying that the market is now "ripe" for any bullish weather forecast.

"Daily and weekly charts had shown us a market that had been susceptible to a rally at any moment to begin with," they said.

With routine nuclear maintenance seasons kicking off, there's also been "some reliance on natural gas for the hole in supply," Smith add.

Stocks, metals and energy were all climbing Tuesday morning, as a working plan among European officials to calm the eurozone's debt crisis coaxed market sentiment to the upside.

Global markets have cheered reports that officials are discussing possibly levering up the eurozone rescue fund -- the European Financial Stability Facility -- by allowing it to borrow funds from the European Central Bank.

The October natural gas contract is set to expire tomorrow and will give way to the November contract at about a seven cent premium according to Smith.

Energy stocks were advancing. Cheniere Energy (LNG) was popping 4.3% to $5.55; Chesapeake Energy (CHK) was adding 3.1% to $28.39; Samson Oil & Gas (SSN) was rising 3% to $2.42; Southern Union (SUG) was rising 1% to $41.50; El Paso (EP) was gaining 4.1% to $18.38; Kinder Morgan (KMI) was advancing 3% to $27.12 and Rex Energy (REXX) was gaining 4.4% to $13.89.

-- Written by Andrea Tse in New York.

>To contact the writer of this article, click here: Andrea Tse.

Copyright 2011 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs