Jeremiah Shelor

The U.S. rig count increased by one to 1,082 for the week ended Friday (Nov. 16), driven by an uptick in oil-directed drilling, including gains in the Eagle Ford Shale, according to data from Baker Hughes, a GE Company (BHGE).

The U.S. natural gas rig count fell by one to 194 for the week ended Friday (Nov. 16) while an uptick in oil activity drove a small increase in the overall domestic count, according to data from Baker Hughes, a GE Company (BHGE).

Natural gas futures rallied Friday to close out a wild week, with forecasters pointing to long-range cold risks that served to exacerbate storage fears. In the spot market, a number of Northeast points gained on a wintry forecast as most regions sold off heading into the weekend; the NGI Spot Gas National Avg. fell 67.0 to $4.350/MMBtu.

The season’s first spell of legitimate winter cold delivered as promised for natural gas markets during the week ended Friday (Nov. 16), as the robust start to winter compounded concerns over storage deficits to send physical and futures prices soaring. TheNGIWeekly Spot Gas National Avg. jumped $1.170 to $4.565/MMBtu.

Natural gas futures rallied Friday to close out a wild week, with forecasters pointing to long-range cold risks that served to exacerbate storage fears. In the spot market, a number of Northeast points gained on a wintry forecast as most regions sold off heading into the weekend; the NGI Spot Gas National Avg. fell 67.0 to $4.350/MMBtu.

December natural gas futures were down 26.9 cents to $4.568/MMBtu shortly before 9 a.m. ET Thursday as forecasts trended warmer overnight, easing some of the fear in a market made volatile by concerns over lean storage inventories.

The Energy Information Administration (EIA) reported a somewhat larger than expected 39 Bcf injection into U.S. natural gas stocks Thursday, giving bears further encouragement with a volatile futures market already pulling back sharply on forecasts.

Milder forecast trends and a larger-than-expected injection from the Energy Information Administration’s (EIA) weekly storage report saw natural gas futures reverse sharply Thursday from the lofty highs established during the previous session. Physical prices eased across much of the Lower 48 even as most points continued to trade above $4, while constraints sent SoCal Citygate and Northwest Sumas spiking; the NGI Spot Gas National Avg. climbed 3.5 cents to $5.020/MMBtu.

Milder forecast trends and a larger-than-expected injection from the Energy Information Administration’s (EIA) weekly storage report saw natural gas futures reverse sharply Thursday from the lofty highs established during the previous session. Physical prices eased across much of the Lower 48 even as most points continued to trade above $4, while constraints sent SoCal Citygate and Northwest Sumas spiking; the NGI Spot Gas National Avg. climbed 3.5 cents to $5.020/MMBtu.