Offline Nuclear Power Plants Improve Natural Gas Prices

Reuters reported that because a large number of nuclear power plants are offline for maintenance, US spot natural gas prices increased for the second day in a row.

As quoted in the market news:

Gas for Wednesday delivery at benchmark supply point Henry Hub in Louisiana rose 2 cents on average to $2.84 per million British thermal units, after gaining 6 cents on Monday for gas delivered on Tuesday.

The daily Hub average remained above the September monthly index of $2.63, but below the year-ago price of $3.30. Hub cash prices peaked last year on June 9 at $4.92.

On NYMEX, the front-month contract traded late up about 4 cents at $2.879. The October contract expires on Wednesday.

Click here to read the full Reuters report.