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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.

Forecast Seen Slightly Cooler as August Natural Gas Futures Tread Water Early

Forecast Seen Slightly Cooler as August Natural Gas Futures Tread Water Early

As the latest forecast advertised a slightly more moderate look to widespread above-normal temperatures expected over the next two weeks, natural gas futures were trading close to even early Wednesday. The August Nymex contract was up 0.4 cents to $1.750/MMBtu at around 8:45 a.m. ET. Citing gas-weighted degree day (GWDD) losses in the medium range…

July 15, 2020
August Natural Gas Futures Called Lower Despite ‘Bullish Posture’ from Forecast

August Natural Gas Futures Called Lower Despite ‘Bullish Posture’ from Forecast

Amid continued weakness in export demand, August natural gas futures extended their losses in early trading Tuesday even as the forecast overall remained supportively hotter than normal. The front month was down 1.7 cents to $1.722/MMBtu at around 8:45 a.m. ET. The early selling Tuesday comes after what analysts at EBW Analytics Group dubbed a…

July 14, 2020
Forecast Heat Looking Less Intense as Natural Gas Futures Called Lower

Forecast Heat Looking Less Intense as Natural Gas Futures Called Lower

Natural gas futures eased lower early Monday as guidance over the weekend dialed back the strength of widespread hotter than normal temperatures in the forecast. The August Nymex contract was down 2.6 cents to $1.779/MMBtu at around 8:40 a.m. ET. The temperature outlook for the next two to three weeks remains hotter than normal, but…

July 13, 2020
U.S. Down One Natural Gas Rig, Oil Patch Down Four

U.S. Down One Natural Gas Rig, Oil Patch Down Four

The U.S. natural gas rig count fell one unit to 75 for the week ending Friday (July 10), while more losses in the oil patch ensured that the combined domestic tally would extend a months-long slide, the latest numbers from Baker Hughes Co. (BKR) show. After the departure of four oil-directed rigs in the United…

July 10, 2020
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