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Jeremiah Shelor

Jeremiah Shelor joined NGI in 2015 after covering business and politics for The Exponent Telegram in Clarksburg, WV. He holds a Master of Fine Arts in Literary Nonfiction from West Virginia University and a Bachelor of Arts in English from Virginia Tech.

Forecast Cold Supporting Further Gains for Natural Gas Futures as Traders Await EIA Report

Forecast Cold Supporting Further Gains for Natural Gas Futures as Traders Await EIA Report

Natural gas futures continued to rebound early Thursday as traders awaited the latest government storage report and as models honed in on a frigid Lower 48 temperature outlook heading into the back half of December.  The January Nymex contract was up 13.3 cents to $5.856/MMBtu at around 8:45 a.m. ET. February was up 10.7 cents…

December 8, 2022
Natural Gas Futures Bounce on Colder Overnight Trends for Back Half of December

Natural Gas Futures Bounce on Colder Overnight Trends for Back Half of December

Following a stretch of heavy selling going back to last week, natural gas futures rebounded in early trading Wednesday as weather models advertised a notably colder outlook for the second half of December. The January Nymex contract was up 17.0 cents to $5.639/MMBtu at around 8:55 a.m. ET. February was up 14.0 cents to $5.518.…

December 7, 2022
EIA Raises 2023 Natural Gas Production Forecast as Output Tops 100 Bcf/d in Late 2022

EIA Raises 2023 Natural Gas Production Forecast as Output Tops 100 Bcf/d in Late 2022

Driven by associated output from the Permian Basin, the Energy Information Administration (EIA) is raising its forecast for domestic natural gas production in 2023, according to updated projections. EIA’s latest Short-Term Energy Outlook (STEO), published Tuesday, calls for U.S. natural gas production to average 100.4 Bcf/d next year, up from its month-earlier forecast for output…

December 6, 2022
Euro Weather Model Seen Shedding Demand Overnight as Natural Gas Futures Extend Losses

Euro Weather Model Seen Shedding Demand Overnight as Natural Gas Futures Extend Losses

Plummeting natural gas futures continued to come under pressure in early trading Tuesday as the latest forecasts further weakened December heating demand expectations. The January Nymex contract was down 10.4 cents to $5.473/MMBtu at around 8:45 a.m. ET, adding to a 70.4-cent sell-off in the previous session. Fading weather-driven demand in the latest forecasts had…

December 6, 2022
‘Collapse’ in December Weather-Driven Demand Sends Natural Gas Futures Plummeting

‘Collapse’ in December Weather-Driven Demand Sends Natural Gas Futures Plummeting

Bearish forecast trends over the weekend, lowering heating demand expectations for the first half of December, ushered in further heavy losses for natural gas futures in early trading Monday.  Coming off a 45.7-cent swoon in Friday’s session, the January Nymex contract was down another 43.7 cents to $5.844/MMBtu at around 8:40 a.m. ET. February was…

December 5, 2022
Drilling Activity Steady in U.S. Following Holiday, BKR Count Shows

Drilling Activity Steady in U.S. Following Holiday, BKR Count Shows

In terms of changes to overall activity levels, it was a quiet week for U.S. drillers, with the natural gas rig count holding steady at 155 for the week ended Friday (Dec. 2), according to the latest figures from Baker Hughes Co. (BKR). Total oil-directed drilling in the United States was also flat for the…

December 2, 2022
Early Winter Weather Insufficient to Inspire Bulls as Natural Gas Forwards Prices Mixed

Early Winter Weather Insufficient to Inspire Bulls as Natural Gas Forwards Prices Mixed

Reflecting a spectrum of blue and orange temperature projections on weather maps at this early juncture in the season, natural gas forwards trading was mixed during the Nov. 23-Dec. 1 trading period. Strong gains for western markets countered declines throughout much of the eastern two-thirds of the Lower 48, NGI’s Forward Look data show. Fixed…

December 2, 2022
U.S. Drilling Total Flat Overall Post Holiday, BKR Data Show

U.S. Drilling Total Flat Overall Post Holiday, BKR Data Show

Despite some regional adjustments, including declines in the Permian Basin, the U.S. rig count went unchanged overall for the week ended Friday (Dec. 2), according to the latest tally from Baker Hughes Co. (BKR). Both oil- and natural gas-directed drilling totals in the United States were flat for the period. Land drilling declined by one…

December 2, 2022
Models Seen Weakening December Cold as Natural Gas Futures Extend Losses Early

Models Seen Weakening December Cold as Natural Gas Futures Extend Losses Early

As updated model runs weakened December heating demand expectations, natural gas futures continued to come under downward pressure in early trading Friday. After sliding 19.2 cents in the previous session, the January Nymex contract was down another 20.7 cents to $6.531/MMBtu at around 8:50 a.m. ET. NatGasWeather observed notable warmer trends overnight from both the…

December 2, 2022
Natural Gas Forwards Mixed as Weather Maps Fail to Impress Overall

Natural Gas Forwards Mixed as Weather Maps Fail to Impress Overall

Reflecting a spectrum of blue and orange temperature projections on weather maps at this early juncture in the season, natural gas forwards trading was mixed during the Nov. 23-Dec. 1 trading period. Strong gains for western markets countered declines throughout much of the eastern two-thirds of the Lower 48, NGI’s Forward Look data show. Fixed…

December 1, 2022
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