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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.

Natural Gas Futures, Cash Plunging Ahead of Memorial Day — MidDay Market Snapshot

Natural Gas Futures, Cash Plunging Ahead of Memorial Day — MidDay Market Snapshot

With traders maneuvering ahead of a long holiday weekend, natural gas futures were headed for a second straight sell-off through midday Friday. Steep discounts were dominant in the physical market on deals for delivery over the Memorial Day break. Here’s the latest: June Nymex futures down 8.9 cents to $2.568/MMBtu at around 1:45 p.m. ET;…

May 24, 2024
Appalachia Leads Natural Gas Drilling Declines in Latest BKR Count

Appalachia Leads Natural Gas Drilling Declines in Latest BKR Count

Driven by declines in the Appalachian Basin, the U.S. natural gas rig count dropped four units to finish at 99 for the week ended Friday (May 24), according to the latest numbers from Baker Hughes Co. (BKR). Oil-directed drilling held flat week/week in the United States at 497 rigs. The combined U.S. rig count finished…

May 24, 2024
Natural Gas Futures Dropping Early Amid Potential Profit-Taking

Natural Gas Futures Dropping Early Amid Potential Profit-Taking

Ahead of a long holiday weekend and with front month options and futures expiration just around the corner, natural gas futures continued to retreat early Friday amid potential profit-taking. The June Nymex contract was off 6.8 cents to $2.589/MMBtu as of 8:30 a.m. ET. July was trading at $2.839, down 8.4 cents. Prices have been…

May 24, 2024
Natural Gas Forwards Rally Further Amid Summer Optimism; Southeast Premiums Grow

Natural Gas Forwards Rally Further Amid Summer Optimism; Southeast Premiums Grow

Regional natural gas forwards continued to soar during the May 16-22 trading period in parallel to the recent bullish momentum lifting summer Nymex futures to new heights, data from NGI’s Forward Look show. Fixed prices at Henry Hub rallied 42.3 cents week/week to finish at $2.845/MMBtu for June delivery. Gains at the benchmark were strongest…

May 23, 2024
Natural Gas Futures Retreating as Storage Fails to Sustain Rally — MidDay Market Snapshot

Natural Gas Futures Retreating as Storage Fails to Sustain Rally — MidDay Market Snapshot

Natural gas futures counterintuitively sank through midday trading Thursday despite a supportive storage print, with the rally that has gripped the market month-to-date unable to find further upside for now.  Here’s the latest: June Nymex futures down 16.9 cents to $2.673/MMBtu as of 2 p.m. ET; July at $2.936, down 11.6 cents Front month extended…

May 23, 2024
Storage Surplus Seen Shrinking Further as Natural Gas Futures Climb Ahead of EIA Print

Storage Surplus Seen Shrinking Further as Natural Gas Futures Climb Ahead of EIA Print

Natural gas futures advanced early Thursday as traders prepared to turn to the latest government inventory data to further assess tightening balances heading into the summer cooling season. The June Nymex contract was up 2.2 cents to $2.864/MMBtu as of 8:35 a.m. ET. July was up 2.2 cents to $3.074. Pre-report surveys showed the market…

May 23, 2024
Natural Gas Futures Back to Rally Mode — MidDay Market Snapshot

Natural Gas Futures Back to Rally Mode — MidDay Market Snapshot

Natural gas futures were returning to rally mode through midday trading Wednesday, shaking off a temporary stumble in the previous session as attention shifted back to summer power burns and declines in excess storage. Here’s the latest: June Nymex futures up 12.6 cents to $2.797/MMBtu as of 1:47 p.m. ET July contract nosing above $3…

May 22, 2024
In Wake of Golden Pass Construction Concerns, Natural Gas Futures Add to Losses

In Wake of Golden Pass Construction Concerns, Natural Gas Futures Add to Losses

With recent developments fueling concerns over the export demand outlook to stall bullish momentum, natural gas futures conceded further ground in early trading Wednesday. The June Nymex contract was off 3.5 cents to $2.636/MMBtu at around 8:40 a.m. ET. July was down 2.3 cents to $2.816. Natural gas futures had been rallying furiously but faltered…

May 22, 2024
Natural Gas Futures Breaking Win Streak on Golden Pass Concerns — MidDay Market Snapshot

Natural Gas Futures Breaking Win Streak on Golden Pass Concerns — MidDay Market Snapshot

Abruptly pausing what had been a relentless march higher in recent weeks, natural gas futures were pulling back through midday trading Tuesday after a contractor working on the Golden Pass LNG terminal filed for bankruptcy, fueling concerns over the export demand outlook. Meanwhile, pipeline congestion was keeping Southeast cash prices elevated. Here’s the latest: June…

May 21, 2024
Natural Gas Rally Sputters Early as Potential Seen for Near-Term Consolidation

Natural Gas Rally Sputters Early as Potential Seen for Near-Term Consolidation

Raising questions of whether the rally that has dominated trading this month could finally be running out of steam, natural gas futures pulled back in early trading Tuesday. The June Nymex contract was trading at $2.718/MMBtu at around 8:45 a.m. ET, down 3.3 cents. July was down 3.7 cents to $2.864. Recent price gains have…

May 21, 2024
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