Friday, June 22, 2012

Natural Gas: "High chance of cyclone over Gulf of Mexico: NHC"

Natural gas futures are trading up 4.9 cents at $2.631.
From Reuters:
Storm systems are seen in the Gulf of Mexico in an NOAA satellite image taken Jun 22, 2012. REUTERS/NOAA/Handout

A low pressure system in the Gulf of Mexico just north of the Yucatan Peninsula still has a 70 percent chance of becoming a tropical cyclone over the next 48 hours, the U.S. National Hurricane Center (NHC) said on Friday.

"Interests along the entire United States Gulf Coast should monitor the progress of this disturbance through the weekend," the NHC said.

About 6 percent of U.S. gas production and just over 20 percent of U.S. oil production come from the Gulf of Mexico....MORE