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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.

Weather ‘Extremely Bearish’ as Natural Gas Futures Extend Losses Early

Weather ‘Extremely Bearish’ as Natural Gas Futures Extend Losses Early

Natural gas futures continued to tumble in early trading Wednesday amid a mild December temperature outlook that trended even warmer overnight. The January Nymex contract was down 12.2 cents to $4.445/MMBtu at around 8:50 a.m. ET, after a combined 91.0-cent swoon over the previous two sessions. The European weather model trended warmer overnight for weather…

December 1, 2021
Natural Gas Futures ‘Nosedive’ in Early Trading as Winter Price Risks Fade

Natural Gas Futures ‘Nosedive’ in Early Trading as Winter Price Risks Fade

Milder weather trends and the diminishing threat of extreme winter price spikes had natural gas futures in freefall early Tuesday. After plummeting 62.3 cents to open the week, the January Nymex contract was off an additional 28.8 cents to trade at $4.566/MMBtu as of around 8:50 a.m. ET. The continued selling for the January contract…

November 30, 2021
January Natural Gas Plummets After December Expiry; Forecasts Show ‘Decisive Shift’ Warmer

January Natural Gas Plummets After December Expiry; Forecasts Show ‘Decisive Shift’ Warmer

Natural gas futures were off sharply in early trading Monday, erasing gains recorded alongside front-month expiration late last week as analysts pointed to warming forecasts and weaker fundamentals. The January Nymex contract was down 51.5 cents to $4.962/MMBtu at around 8:40 a.m. ET. The December contract rolled off the board on Friday with a 37.9-cent…

November 29, 2021
North Dakota Gains Lift Latest Baker Count as Oil Activity Climbs

North Dakota Gains Lift Latest Baker Count as Oil Activity Climbs

An uptick in North Dakota drilling activity helped send the U.S. rig count six units higher to finish at 569 during the abbreviated pre-Thanksgiving period ended Wednesday (Nov. 24), updated Baker Hughes Co. (BKR) data show. All the net gains for U.S. drilling for the period occurred on land and in the oil patch. Total…

November 24, 2021
Oil Remains Driver of U.S. Drilling Growth as Natural Gas Tally Stable at 102

Oil Remains Driver of U.S. Drilling Growth as Natural Gas Tally Stable at 102

The U.S. natural gas rig count went unchanged at 102 for the abbreviated pre-Thanksgiving period ended Wednesday (Nov. 24), while an uptick in drilling activity in North Dakota helped lift the oil count six units higher, according to updated Baker Hughes Co. (BKR) data. As with the total number of natural gas-directed rigs, the Gulf…

November 24, 2021
Natural Gas Future Called Slightly Higher as Market Expecting Season’s First Withdrawal

Natural Gas Future Called Slightly Higher as Market Expecting Season’s First Withdrawal

Natural gas futures were hovering close to even early Wednesday ahead of the release of fresh government inventory data expected to show the season’s first storage withdrawal. The December Nymex contract was up 3.7 cents to $5.004/MMBtu at around 8:50 a.m. ET. NGI’s machine learning model is calling for a 26 Bcf withdrawal from Lower…

November 24, 2021
Euro Model Notably Colder Overnight as Natural Gas Futures Rally Early

Euro Model Notably Colder Overnight as Natural Gas Futures Rally Early

Boosted by a large cold shift from the European weather model overnight, natural gas futures significantly pared their recent losses in early trading Tuesday. After dropping 27.6 cents in the previous session, the December Nymex contract was up 15.7 cents to $4.946 at around 8:50 a.m. ET. The latest model runs led Bespoke Weather Services…

November 23, 2021
Forecasts Lock in on Mild Early December Temps as Natural Gas Futures Plunge

Forecasts Lock in on Mild Early December Temps as Natural Gas Futures Plunge

Natural gas futures were down sharply in early trading Monday as weather models over the weekend advertised a pattern that would deliver notably warmer-than-normal temperatures for early December. The December Nymex contract was down 25.2 cents to $4.813/MMBtu at around 8:45 a.m. ET. Compared to Friday’s outlook, the largest change in the temperature outlook occurred…

November 22, 2021
Natural Gas Drilling Activity Steady in U.S. as Growth Remains Oil-Focused

Natural Gas Drilling Activity Steady in U.S. as Growth Remains Oil-Focused

The U.S. natural gas rig count finished unchanged at 102 during the week ended Friday (Nov. 19) as the oil patch continued to set the pace for growth in domestic drilling activity, according to the latest numbers from Baker Hughes Co. (BKR). The overall U.S. rig count added seven units — all oil-directed — to…

November 19, 2021
Permian the Focal Point of U.S. Onshore Growth as Drilling Totals Rise

Permian the Focal Point of U.S. Onshore Growth as Drilling Totals Rise

The Permian Basin was the focal point of U.S. onshore drilling activity during the week ended Friday (Nov. 19), spurring a seven-rig increase in the combined domestic count, which finished at 563, according to the latest numbers from Baker Hughes Co. (BKR). All of the net gains for the week in the United States occurred…

November 19, 2021
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