Natural gas prices rebounded as inventories fell (photo: naturalgasintel.com)

Nymex gas contract for November futures rose 9.9 cents to $5,088\/MMBtu. December settled at $5,350, up 11.4 cents on the day.

The contract for the month opened slightly below Monday’s close at $4,985 and continued to fall to an intraday low of $4,825. That’s where the month quickly found support, eventually back above $5,000.

Forecasters say the US weather will turn colder than usual in the coming days, so demand will increase due to increased heating demand.

Bloomberg data shows output falling by more than 2 Bcf/d to slightly below 90 Bcf. Wood Mackenzie also estimates a lower daily yield, but it puts the official figure at around 91.4 Bcf.

Inventories as of October 8 stood at 3,369 Bcf, 501 Bcf below year-ago levels and 174 Bcf below the five-year average, according to the Energy Information Administration (EIA). Energy Information (EIA).

Domestic gas prices

On the afternoon of September 30, the Pacific Petroleum Import-Export Trading Joint Stock Company announced that from tomorrow (October 1), the price of gas Pacific Petro, City Petro, Vimexco Gas increased by 42,000 VND/bottle of 12 kg and increased by 157,500 VND/45 kg bottle. Thus, the retail gas price can reach consumers at a maximum of 484,000 VND / 12kg bottle and 1,813,500 VND / 45 kg bottle.

Ho Chi Minh City Petroleum Company Limited (Saigon Petro) also informed that from October 1, gas prices increased by 42,000 VND/bottle of 12 kg. Thus, the maximum retail price to consumers is 461,500 VND/bottle of 12kg.

Similarly, Vietnam LPG Trading Joint Stock Company Southern branch announced that the selling price of PetroVIETNAM Gas increased by VND 42,000/bottle of 12 kg and VND 157,500/tank of 45 kg. The retail price to consumers is VND 460,900/bottle of 12 kg and VND 1,728,670/bottle of 45 kg.

According to gas companies, because the world gas price in October announced 797.5 USD/ton, increased by 132.5 USD compared to September, the companies adjusted the increase accordingly.

This is the eighth month in 2021 that gas prices have increased in a row and is the highest increase so far this year.

Mr. Le Quang Tuan, Deputy General Director of Pacific, said that during September, the world gas price did not decrease and this price increase was in the forecast of companies. According to Mr. Tuan, although in October, gas prices increased to a record high, but compared to previous times, it was still low.

For example, the highest increase in gas price to 78,000 VND/12kg bottle was in December 2013, the highest increase in gas price in March 2012 was 52,000 VND in the nearest month in January 2020, the highest increase in gas price was at 48,000 VND/12kg bottle. .

T&G International Joint Stock Company

Address: 352 Hue Street, Le Dai Hanh Ward, Hai Ba Trung District, Hanoi

Hotline: 0345786803

Email: hrm@tginterjsc.com

Website: http://tginternationaljsc.com