Mercados

Pemex Casting Off Red Tape to Potentially Import More LNG

A top-level team of Mexican energy officials and regulators has reached an accord with state oil company Petroleos Mexicanos (Pemex) to allow the producer to renew purchasing liquefied natural gas (LNG), while eliminating penalizations under the previous system, a source close to the deal told NGI’s Mexico Gas Price Index. Read More

Models Mixed on November Temps as Natural Gas Futures Slide; Maintenance Squeezes West Texas Cash

  • December falls 2.4 cents to $3.237; January down 2.7 to $3.275
  • Markets to closely watch Nov. 15-18 pattern as models mixed on mild, cold risks: NatGasWeather
  • EIA reported 48 Bcf build shows “extreme looseness” in last week’s injection a “relative one-off,” says Bespoke
  • West Texas prices down ahead of El Paso maintenance
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Historically Low U.S. Storage Puts Dicey Scenarios in Play for Natural Gas Markets

The natural gas market is balanced on a knife’s edge heading into Winter 2018/19. Meager end-October stockpiles could create problems getting the gas to where it’s needed if cold weather surprises, analysts say, while surging Lower 48 production growth could see the market loosen significantly should winter weather fail to impress. Read More

November Natural Gas Futures Roll Off Board Unchanged at $3.185

  • Nymex November gas futures contract expires flat after late buying spree
  • Production sets fresh record, while weather models turn warmer through medium range
  • Some market observers unsure about late November weather given volatility in models
  • Spot gas prices soar in New England, other parts of the East as cold weather systems move across region
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November NatGas Slides, But Losses Pared After Midday Buying Spree; Spot Gas Softens

  • Nymex natural gas futures fall as much as a dime before buyers step in to trim losses to just 1.7 cents
  • Mild weather in store for mid-November combined with strong production and loose storage data to put the ball back in market bears’ court
  • Low prices at back end of futures curve catching the attention of at least one producer, perhaps foreshadowing a larger pullback in production growth
  • Spot gas prices tank as mild fall weather saps demand
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November Natural Gas Futures Bounce Back Despite Bearish Storage Data; Spot Gas Slides

  • Traders cautious about mild November weather patterns, send Nymex natural gas futures higher
  • Energy Information Administration reports 58 Bcf storage build, but implied flows of 63 Bcf reflect even looser market
  • Stocks remain more than 600 Bcf below historical levels
  • Spot gas tumbles despite cold fronts, pipeline maintenance events
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