Natural-gas futures climb by nearly 16%; oil pares gains by the close
Natural-gas futures rallied Wednesday, finding support from reported disruptions from storm-related flooding to liquefied natural gas facilities in Texas as well as signs of strong demand. Oil prices, meanwhile, finished higher, but saw only a modest gain in the wake of data showing a second straight weekly decline in U.S. crude supplies. U.S. benchmark prices failed to reclaim the $40 mark as fresh lockdown measures in Europe, amid a rise in coronavirus cases, fed expectations for weaker energy demand. On the New York Mercantile Exchange, October natural gas rose 29 cents, or nearly 16%, to settle at $2.125 per million British thermal units. November West Texas Intermediate crude settled at $39.93 a barrel, up 13 cents, or 0.3%.
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