Jodi Shafto joined NGI as a Senior Natural Gas Reporter in October 2023. Before that, she was a business news reporter for South Carolina's largest daily newspaper, The Post and Courier, and was a Senior Energy Markets Reporter at S&P Global Market Intelligence. Based out of Charleston, Jodi has covered US energy markets since 2005 as a reporter, editor and analyst. A New Jersey native, she holds a BS in Journalism from Bowling Green State University.
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Articles from Jodi Shafto
April Natural Gas Price Rally Stifled by Weather Outlook, Possible Storage Build; Cash Prices Mixed
April Nymex natural gas futures’ advance was cut short after two days as weather outlooks that supported gains early in the week shifted warmer midweek. Pressure was added while the market braces for a possible small storage injection in the U.S. Energy Information Administration (EIA) storage data that would further widen the inventory overhang. At…
March 20, 2024
April Natural Gas Futures Finish Higher Supported by Cold; Spot Gas Climbs
April Nymex natural gas futures extended gains Tuesday with bulls feeding on near-term weather forecasts that would support a bump in demand and a pullback in the widening of natural gas storage surpluses. At A Glance: Futures add to prior gains Demand boosted by chill Cash gas up, Texas negative The front-month contract settled 4.1…
March 20, 2024
April Natural Gas Futures Extend Gains Bolstered by Cold Weather; Cash Climbs
April Nymex natural gas futures extended gains Tuesday with bulls feeding on near-term weather forecasts that would support a bump in demand and a pullback in the widening of natural gas storage surpluses. At A Glance: Futures add 4.1 cents Cold weather supports Texas cash still negative The front-month contract settled 4.1 cents higher at…
March 19, 2024
Natural Gas Market Contango Incentivizing Hedging, Could Keep Producers from Reining in Supply
If the future price of natural gas remains higher than the spot price, would producers be incentivized to tighten production? Market participants discussed the possibility that the contango in natural gas would keep some producers from reining in supply. NGI spot price data show that the Henry Hub natural gas price rose 16.5 cents Monday…
March 19, 2024
Natural Gas Futures Prices Finish Higher Monday; Cash Up on Cooldown
Natural gas futures pulled back from early highs, still ending the week’s opening session with a gain as near-term cold weather that could prevent surpluses in natural gas inventories from widening further offered some support. The April Nymex natural gas futures contract settled Monday at $1.703/MMBtu. Prices rallied early to a high of $1.762 but…
March 19, 2024
Natural Gas Futures Prices Finish Higher as Weather Provides Near-Term Support; Cash Rallies
Natural gas futures pulled back from early highs, still ending the week’s opening session with a gain as near-term cold weather that could prevent surpluses in natural gas inventories from widening further offered some support. At A Glance: Futures pare early gains Weather modestly supportive Cash markets up on cooldown The April Nymex natural gas…
March 18, 2024
Natural Gas Market Bracing for Possible Early Storage Injection, Extended Price Decline
What remains of the official natural gas inventory withdrawal season could be limited by the possible net injection into natural gas stocks for the week of March 8. Amid already swollen natural gas supplies, an early injection, although not unprecedented, could send natural gas prices reeling. In its upcoming storage report, the U.S. Energy Information…
March 13, 2024
Tourmaline Cutting WCSB ‘24 Natural Gas Production Amid Low Prices, Remains ‘Super Constructive’ on ‘25
Tourmaline Oil Corp., the largest natural gas producer in Canada, is reducing 2024 natural gas production in the Western Canadian Sedimentary Basin (WCSB) by about 100 MMcf/d from previous guidance, or 4% essentially eliminating any gas growth in 2024, “and we definitely think that’s the right thing to do,” CEO Mike Rose said. Tourmaline is…
March 13, 2024
Natural Gas Technicals Pointing Toward Bottom as Downside Momentum Continues
Natural gas market key resistance levels and technical chart patterns are beginning to suggest a possible bullish reversal, but until weather and storage fundamentals turn more supportive, additional downside is expected. Since hitting bottom at a three-and-a-half-year intraday low of $1.511/MMBtu in late February, natural gas futures have attempted to breach the $2.000 barrier, touching…
March 12, 2024
Price Support Growing in Long-Term Natural Gas Market Outlook
Natural gas prices have been lifting off lackluster levels, responding to some moderately bullish fundamentals that could become increasingly supportive and drive prices back as high as the $4.000/MMBtu range by 2025, according to NGI. The Henry Hub spot natural gas price fell 19.5 cents day/day to an average of $1.465 late last week. The…
March 7, 2024