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.
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Articles from Jeremiah Shelor
Selling Weighted to Front of Natural Gas Forward Curves on Weak Near-Term Fundamentals
Against a backdrop of soft near-term fundamentals, exceptionally weak spot market pricing and plummeting Nymex futures, regional natural gas forwards came under widespread bearish pressure during the March 7-13 trading period, NGI’s Forward Look data show. For a market still threading the needle between near-term oversupply and anticipated future demand growth, selling was weighted toward…
March 14, 2024
Natural Gas Futures Maintaining Post-EIA Momentum; Cash Weakness Continues — MidDay Market Snapshot
Natural gas futures continue rallying through midday after supportive government inventory data April Nymex futures up 7.7 cents to $1.735/MMBtu as of 2:13 p.m. ET; May up 7.2 cents to $1.856 U.S. Energy Information Administration (EIA) reported 9 Bcf withdrawal for week ended March 8, tighter versus estimates but loose versus historical norms Per Gelber…
March 14, 2024
Natural Gas Futures Slightly Lower as Early Injection from EIA a Possibility
As traders prepared to digest updated government inventory data that could reveal an unusually early net injection following blowtorch winter weather, natural gas futures hovered just shy of even early Thursday. The April Nymex contract was trading at $1.648/MMBtu at around 8:35 a.m. ET, off 1.0 cent. May was down 1.3 cents to $1.771. The…
March 14, 2024
EIA Cuts U.S. Natural Gas Price Forecast Amid Warm Winter Temps, Stout Supply
The U.S. Energy Information Administration (EIA) is slashing its projected 2024 average Henry Hub natural gas spot price by 14% versus its month-earlier forecast after observing record lows for the benchmark in February, the agency said Tuesday. EIA, in its latest Short-Term Energy Outlook (STEO), modeled an average Henry Hub price of $2.27/MMBtu for 2024,…
March 13, 2024
Historic Lows for Henry Hub Cash; Natural Gas Futures Flounder — MidDay Market Snapshot
Soft near-term fundamentals keeping pressure on natural gas futures at the front of the curve through midday trading April Nymex contract down 3.7 cents to $1.677/MMBtu as of 1:56 p.m. ET; May off 2.9 cents at $1.794 LNG export demand down to 12.6 Bcf/d in latest Wood Mackenzie estimates Deliveries to Freeport well below capacity…
March 13, 2024
Natural Gas Futures Traders Not Impressed by March Cooling as Prices Extend Skid
With upcoming cooling seemingly a case of too-little, too-late for natural gas prices, futures losses mounted in early trading Wednesday. After conceding 4.5 cents in the previous session, the April Nymex contract was down another 4.1 cents to $1.673/MMBtu as of 8:47 a.m. ET. Updated projections from Maxar’s Weather Desk showed the eastern half of…
March 13, 2024
EIA Slashes 2024 Henry Hub Natural Gas Forecast After Record Low February Prices
The U.S. Energy Information Administration (EIA) is slashing its projected 2024 average Henry Hub natural gas spot price by 14% versus its month-earlier forecast after observing record lows for the benchmark in February, the agency said Tuesday. EIA, in its latest Short-Term Energy Outlook (STEO), modeled an average Henry Hub price of $2.27/MMBtu for 2024,…
March 12, 2024
Natural Gas Futures Fall Hard in Reversal of Early Rally — MidDay Market Snapshot
Natural gas futures pull back sharply from early highs as bears reassert control amid mild weather, storage glut April Nymex contract down to $1.696/MMBtu, off 6.3 cents, as of 2:21 p.m. ET Front month reached $1.823 high in morning trading after CNX Resources Corp. announced roughly 30 Bcfe production cut Swift reversal for prices started…
March 12, 2024
Natural Gas Futures Bulls Embrace Another Producer Announcing Cuts
Another producer curtailment, coupled with more supportive temperatures into the back half of March, saw natural gas futures pare their recent losses in early trading Tuesday. After falling 4.6 cents in the previous session, the April Nymex contract had gained back 3.4 cents to trade at $1.794/MMBtu as of 8:38 a.m. ET. The early gains…
March 12, 2024
Storage Glut Weighs Down Natural Gas Futures; Cash Prices Flounder — MidDay Market Snapshot
Natural gas futures retreating through midday trading as expanding storage surplus outweighing cooler temperatures into late March April Nymex contract off 3.6 cents to $1.769/MMBtu as of 2:10 p.m. ET; May down 5.0 cents to $1.873 Lower 48 storage surplus versus five-year average poised to pass 600 Bcf; NGI modeling 3 Bcf withdrawal for week…
March 11, 2024