Chris Newman joined NGI in October 2023. He worked 18 years at Argus Media, starting in 2004 in Washington, D.C., where he covered U.S. thermal/coking coal markets and rail transportation. In 2014, he moved to Singapore to help lead Argus’ coverage of steel and its raw material feedstocks. A graduate of the University of Virginia, Chris returned to his native Virginia in 2021.
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Articles from Chris Newman
May Natural Gas Futures Jump as NGTL Pipeline Incident Rattles Market
Natural gas futures jumped higher Tuesday afternoon after reports of a pipeline incident in Alberta broke up an otherwise quiet shoulder season day of trading. At A Glance: Production at 97.4 Bcf/d Weak spring season demand National Avg. back above $1 The May Nymex contract rose 4.1 cents day/day to settle at $1.732/MMBtu. Futures spiked…
April 16, 2024
Louisiana Court Grants Approval for DTM to Proceed with Natural Gas Crossings in Blow to Energy Transfer
A Louisiana appeals court on Wednesday ruled that Energy Transfer LP may not block DT Midstream Inc. (DTM) from building natural gas pipeline crossings underneath its system, with one judge stating that Energy Transfer’s property rights do not extend “to the center of the earth.” In a unanimous ruling by the three-judge panel, the Louisiana…
April 11, 2024
Steep Contango Drawing Attention to U.S. Natural Gas Salt Storage Limits
Late winter salt storage constraints that helped steepen U.S. natural gas forward curves to near record levels have started to ease with the onset of the injection season, likely providing a tailwind to prompt prices. NGI December forward prices for benchmark Henry Hub stood at a $1.693/MMBtu premium to May at the start of April,…
April 11, 2024
Natural Gas Futures Enter Technical ‘No-Man’s Land’
Prompt-month natural gas futures have ping-ponged between support levels after getting an injection of strength from the rolloff of the April contract last week. New York Mercantile Exchange (Nymex) natural gas futures gapped up last Wednesday, creating an immediate support level at $1.647/MMBtu, according to NGI’s Pat Rau, director of Strategy & Research. May futures…
April 1, 2024
Will Summer Temps Move U.S. Natural Gas Demand? Wind, Solar May Have a Word
Natural gas production cuts have stabilized the fuel’s prices by countering weak Lower 48 winter demand, turning the market’s attention to the next big levers for fundamentals: the upcoming summer and added wind and solar capacity. Prompt-month New York Mercantile Exchange futures, trading above the $1.800 level at the start of April, had settled as…
April 1, 2024
U.S. Natural Gas Drilling Rig Count Flat Week/Week, but Oil Count Down, BKR Data Show
The domestic natural gas rig count held steady at 112 for the week ended Thursday (March 28), while a decline in oil activity lowered the combined domestic drilling tally by three to 621, the latest Baker Hughes Co. (BKR) data show. The combined oil and gas U.S. rig count for the week, which was 621,…
March 28, 2024
April Bidweek Trading Concludes as Hefty Storage, Incoming Weak Demand Weigh
Stout storage levels at the start of the weak spring demand season kept baseload natural gas prices for April under pressure in bidweek trading Tuesday, according to NGI’s Bidweek Alert (BWA). Overall trade slowed from Monday on the third and last day of bidweek trading for April baseload flows, with the Midwest and Appalachia leading…
March 27, 2024
Natural Gas Futures Circle Above Technical Support as April Contract Nears Expiration
April natural gas futures bounced off technical support at the start of the week, potentially setting a near-term floor for prices ahead of the shoulder season contract month rolling off the board this week. The April New York Mercantile Exchange (Nymex) contract traded as low as $1.589/MMBtu Monday before moving higher, settling down 4.4 cents…
March 26, 2024
April Natural Gas Bidweek Prices Stay Lower on Second Day of Trade
The second day of natural gas bidweek trading Monday (March 25) saw baseload prices maintain the weakening trend that began Friday, according to NGI’s Bidweek Alert (BWA). Deal volumes slowed somewhat from Friday levels. Bidweek trading concludes on Tuesday. Leading on volume for deals, Dawn in the Midwest saw 80 total deals. Its basis trading…
March 26, 2024
East Tennessee, Transco Natural Gas Pipes Approved by FERC
FERC last week granted approval for a pair of natural gas pipeline projects, including Enbridge Inc.’s East Tennessee Natural Gas LLC (ETNG) and Williams’ Transcontinental Gas Pipe Line Company Co. LLC, aka Transco. ETNG’s System Alignment (SA) Program is designed to improve reliability in response to shifts in customer demand that have created imbalances on…
March 26, 2024