Wheatstone LNG, Rising U.S. Natural Gas Price: Your Daily Energy News

News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

NATURAL GAS
U.S. Natural Gas Jumps 11% on Colder Weather - U.S. natural gas futures soared more than 11% on Monday to a two-month high as a major winter snowstorm battered the Northeast and with forecasts suggesting much colder weather and higher heating demand over the next two weeks than previously expected. Front-month gas futures rose 28.6 cents, 11.2%, to settle at $2.850 per million British thermal units, their highest settle since December 1 and their biggest daily percentage gain since September. (Reuters)

LNG
Chevron: Australia's Wheatstone LNG Production Below Capacity Due to Repairs - U.S. oil major Chevron Corporation (NYSE:CVX) is operating its Wheatstone LNG plant in Western Australia at below capacity as it makes repairs, a senior company executive said. "At Wheatstone, production is modestly below capacity while we repair an inlet separator," Chief Financial Officer Pierre Breber said during an earnings conference call on Friday. "We do not expect production impacts in the second quarter." (Plant 1080988) (Reuters)

CRUDE OIL
Oil Prices Up 2% on U.S. Inventory Fall and Increased Demand - Oil prices settled more than 2% higher on Monday, buoyed by falling U.S. crude inventories and rising winter fuel demand due to one of the worst snowstorms to hit the U.S. Northeast in years. Brent crude settled up $1.31 cents, or 2.4%, at $56.35 a barrel. U.S. crude gained $1.35 cents, or 2.6%, to settle at $53.55. Both benchmarks gained nearly 8% in January. (Reuters)

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About Industrial Info
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