7/7, 3:40 PM (Source: TeleTrader)
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F NG+1.47%

Chart for: F NG 11/22

Natural gas rises over 5% as supply concerns mount

Natural gas prices in the United States rose more than 5% on Thursday as concerns over the current energy crisis mount.

Among the day's news, it was learned earlier that several Iranian energy companies, including Persian Gulf Star Oil Corporation, Ali AlMutawa Petroleum Corporation, Petrogat FZE, and Petrokick LLC, had been placed on the Treasury's sanctions list. Besides, some reports indicate that the US industrial sector is starting to buckle under high energy costs. Rising bills force companies to scale back their industrial operations, threatening to affect the economy further.

US natural gas futures for delivery in August sank 5.20% to sell for $5.765 per million British thermal units at 9:28 am ET.

Baha Breaking News (BBN) / JG