US Natural Gas Futures Climb 2% as LNG Plants, Including ExxonMobil's Golden Pass, Boost Feedgas
XOM sits 46% above its 52-week low of $101.185 on light trading volume (0.1× avg).
Summary
US natural gas futures climbed 2% today, driven by increased feedgas demand from liquefied natural gas (LNG) export plants. This includes ExxonMobil and QatarEnergy's Golden Pass plant, which is resuming higher activity after spring maintenance. This rise in natural gas prices and increased operational demand for LNG is a positive development for ExxonMobil's natural gas business, providing a counterpoint to recent negative news regarding Q1 earnings and production cuts.
At the time of this announcement, XOM was trading at $147.27 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $610.4B. The 52-week trading range was $101.19 to $176.41. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.