Why Kinder Morgan Stock Jumped Wednesday
Shares of midstream oil company Kinder Morgan (NYSE: KMI) rallied 2.5% early Wednesday and continued to maintain momentum through the day as natural gas prices rebounded dramatically. With a freight-rail strike looming large even as utilities prepare to build gas inventories ahead of winters, fears of a gas supply crunch are back to renew investor interest in top natural gas stocks.
After retreating from their 14-year highs hit in mid-August, natural gas prices shot up this morning and were rallying as much as 8% as of this writing. The U.S. and Europe are heading into peak demand season as winters approach at a time when Europe is already facing an energy crisis.
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Source Fool.com
