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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.

More Losses for Oil Patch as U.S. Rig Count Grinds Lower

More Losses for Oil Patch as U.S. Rig Count Grinds Lower

A continued slide in oil-directed activity helped drop the U.S. rig count another five units to 258 for the week ending Friday (July 10), according to the latest figures from Baker Hughes Co. (BKR). Four oil-directed rigs, along with one natural gas-directed, exited the United States during the period, putting the overall domestic tally 700…

July 10, 2020
Natural Gas Futures Called Slightly Higher; Forecasts Ease Off on July Heat

Natural Gas Futures Called Slightly Higher; Forecasts Ease Off on July Heat

As the latest forecasts moderated somewhat on expected heat, and as analysts continued to mull balances following the latest government storage data, natural gas futures were trading close to even early Friday. Coming off a 4.5-cent sell-off in Thursday’s session, the August Nymex contract was up 1.5 cents to $1.794/MMBtu at around 8:40 a.m. ET.…

July 10, 2020
Cooling Demand Expectations Build Overnight as Natural Gas Futures Called Higher

Cooling Demand Expectations Build Overnight as Natural Gas Futures Called Higher

With traders weighing hotter forecast trends overnight and the potential for a momentum shift on the latest government storage data, natural gas futures were up several cents in early trading Thursday. The August Nymex contract was up 5.8 cents to $1.882/MMBtu at around 8:40 a.m. ET. The 10:30 a.m. ET Energy Information Administration (EIA) storage…

July 9, 2020
LNG, Production Changes Pressure Natural Gas Futures Lower Early

LNG, Production Changes Pressure Natural Gas Futures Lower Early

Weak export demand and an uptick in production estimates saw natural gas futures reverse lower in early trading Wednesday. The August Nymex contract was off 4.6 cents to $1.830/MMBtu at around 8:45 a.m. ET. The sell-off in the August contract could be attributed to a small upward revision in the latest production data and another…

July 8, 2020
Weather Models ‘Solidly Bullish’ as Natural Gas Futures Continue Rally

Weather Models ‘Solidly Bullish’ as Natural Gas Futures Continue Rally

Drawing support from a toasty temperature outlook for the next two weeks, natural gas futures continued to advance in early trading Tuesday. The August Nymex contract was up 6.5 cents to $1.895/MMBtu at around 8:40 a.m. ET. The overnight guidance continued to advertise a “quite hot” pattern for the next 15 days, one that would…

July 7, 2020
Forecasts ‘Very Constructive’ for Natural Gas Demand as Futures Called Higher

Forecasts ‘Very Constructive’ for Natural Gas Demand as Futures Called Higher

A continued strong showing for July heat in the latest forecasts helped lift natural gas futures sharply higher in early trading Monday. The August Nymex contract was up 8.5 cents to $1.819/MMBtu at around 8:40 a.m. ET. While changes to the forecast were mixed over the holiday weekend, the overall pattern continues to look “very…

July 6, 2020
Permian Activity Declines as U.S. Rig Count Down Two

Permian Activity Declines as U.S. Rig Count Down Two

Driven by declines in the Permian Basin, the U.S. rig count fell two units overall to drop to 263 for the short holiday week ending Thursday (July 2), according to the latest numbers from Baker Hughes Co. (BKR). Changes for the week included a three-rig decline in oil-directed drilling, partially offset by the addition of…

July 2, 2020
U.S. Adds One Natural Gas Rig as Oil Count Slides

U.S. Adds One Natural Gas Rig as Oil Count Slides

The U.S. natural gas rig count climbed one unit to finish at 76 for the holiday-shortened week ending Thursday (July 2), while declines in the Permian Basin led a modest drop-off in the oil patch, according to the latest numbers from Baker Hughes Co. (BKR). After accounting for a three-rig decline in oil-directed rigs, the…

July 2, 2020
Traders Anticipating Double-Digit Injection as Natural Gas Futures Called Slightly Higher

Traders Anticipating Double-Digit Injection as Natural Gas Futures Called Slightly Higher

As traders prepared for the potentially pivotal release of the latest government storage data, natural gas futures were up modestly in early trading Thursday. The August Nymex contract was trading at $1.694/MMBtu at around 8:45 a.m. ET, up 2.3 cents. Coming off a plump 120 Bcf injection reported a week earlier, analysts anticipate a much…

July 2, 2020
July Bidweek Marked by Discounts as Natural Gas Traders Mull Loose Balances, LNG Declines

July Bidweek Marked by Discounts as Natural Gas Traders Mull Loose Balances, LNG Declines

Dragged down by loose balances amid weaker export demand, natural gas prices skidded lower in July bidweek trading even as a toasty forecast offered some encouragement for the bulls. NGI’s July Bidweek National Avg. fell 9.5 cents month/month to $1.450/MMBtu. That marks a 53-cent decline from the $1.980 average NGI recorded for July 2019 bidweek,…

July 1, 2020
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