Archive / Author

Subscribe

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 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
Natural Gas Futures Soaring as Summer Optimism Continues — MidDay Market Snapshot

Natural Gas Futures Soaring as Summer Optimism Continues — MidDay Market Snapshot

Natural gas futures continued to soar through midday trading Monday, with warm May temperatures hinting at upcoming summer cooling demand to keep bulls firmly in control. Here’s the latest: June Nymex futures at $2.741 at around 2:10 p.m. ET, up 11.5 cents Speculators as a group covered short positions during the week ended May 14,…

May 20, 2024
Southeast Natural Gas Forwards Rally Amid Hot Forecast, Maintenance

Southeast Natural Gas Forwards Rally Amid Hot Forecast, Maintenance

Natural gas forwards rallied during the May 9-15 trading period as the market keyed in on the upside potential of summer power burns. Front month fixed prices at Henry Hub climbed 22.8 cents to finish the period at $2.422/MMBtu, Forward Look data show. Interestingly, near-month basis differentials weakened at numerous other Lower 48 trading points…

May 20, 2024
Upside Momentum Continuing for Natural Gas Futures After Weekend Break

Upside Momentum Continuing for Natural Gas Futures After Weekend Break

With bullish optimism continuing to build around summer cooling demand potential against a backdrop of leaner daily production numbers, natural gas futures were climbing again in early trading Monday. Coming off a 13.1-cent rally to close out last week’s trading, the June Nymex contract was up another 6.7 cents to $2.693/MMBtu at around 8:40 a.m.…

May 20, 2024
No Weekly Change in U.S. Natural Gas Drilling Activity, Latest BKR Count Shows

No Weekly Change in U.S. Natural Gas Drilling Activity, Latest BKR Count Shows

The U.S. natural gas rig count held steady at 103 for the week ended Friday (May 17), while a small increase in oil-directed drilling raised the combined domestic tally one unit to 604, according to the latest numbers from Baker Hughes Co. (BKR). The 103 active U.S. natural gas rigs as of Friday compares with…

May 17, 2024
Natural Gas Futures Bulls Seeking Strong Finish to Week — MidDay Market Snapshot

Natural Gas Futures Bulls Seeking Strong Finish to Week — MidDay Market Snapshot

Front month natural gas futures were charting new highs Friday as bulls aimed to make it a third consecutive positive session. In the spot market, meanwhile, deals for weekend and Monday delivery were mostly drifting lower. Here’s the latest: June Nymex futures up 11.4 cents to $2.609/MMBtu as of 2:06 p.m. ET “Reasons for gains…

May 17, 2024
Natural Gas Futures Extend Rally; No LNG Impacts Observed After Houston Hit by Storms

Natural Gas Futures Extend Rally; No LNG Impacts Observed After Houston Hit by Storms

Bulls remained in control in natural gas futures trading early Friday as recent inventory data pointed to tight underlying balances heading into the peak summer months. The June Nymex contract was up 4.9 cents to $2.544/MMBtu as of 8:36 a.m. ET. July was up 3.6 cents to $2.723. The U.S. Energy Information Administration (EIA) on…

May 17, 2024
Natural Gas Forwards Rally; Southern Heat Spurs Regional Buying Pressure 

Natural Gas Forwards Rally; Southern Heat Spurs Regional Buying Pressure 

Natural gas forwards rallied during the May 9-15 trading period as the market keyed in on the upside potential of summer power burns. Front month fixed prices at Henry Hub climbed 22.8 cents to finish the period at $2.422/MMBtu, Forward Look data show.  Interestingly, near-month basis differentials weakened at numerous other Lower 48 trading points…

May 16, 2024
Another Push Higher for Natural Gas Futures — MidDay Market Snapshot

Another Push Higher for Natural Gas Futures — MidDay Market Snapshot

The rally continued for natural gas futures through midday Thursday as a leaner-than-expected weekly inventory injection kept bulls on the offensive.  Here’s the latest: June Nymex futures up 6.6 cents to $2.482/MMBtu at around 2:20 p.m. ET U.S. Energy Information Administration’s (EIA) reported storage injection misses bullish at 70 Bcf Lower 48 surplus to five-year…

May 16, 2024
Natural Gas Futures Extend Rally Ahead of Storage Data as Surpluses Poised to Contract

Natural Gas Futures Extend Rally Ahead of Storage Data as Surpluses Poised to Contract

As traders prepared to digest updated government inventory data, expected to show surpluses trending lower week/week, natural gas futures advanced early Thursday. The June Nymex contract was up 3.0 cents to $2.446/MMBtu at around 8:40 a.m. ET. July was up 2.8 cents to $2.659. Ahead of the U.S. Energy Information Administration’s (EIA) 10:30 a.m. ET…

May 16, 2024