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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.

Scorching Summer Forecast Lifts Natural Gas Forwards Prices

Scorching Summer Forecast Lifts Natural Gas Forwards Prices

A sweltering summer temperature outlook overshadowed ongoing demand destruction from the Freeport LNG terminal outage to send natural gas forwards prices soaring during the July 7-13 trading period, NGI’s Forward Look data show. Fixed price trading for August delivery at benchmark Henry Hub surged $1.179 higher week/week to $6.690/MMBtu. That established the baseline for fixed…

July 15, 2022
Driven by Increase in Land Drilling, U.S. Upstream Activity Rises in Latest BKR Count

Driven by Increase in Land Drilling, U.S. Upstream Activity Rises in Latest BKR Count

The U.S. rig count increased four units to 756 during the week ended Friday (July 15) as increased activity on land offset a decline in the Gulf of Mexico (GOM), according to the latest figures from Baker Hughes Co. (BKR). Gains in the United States for the week included two oil-directed rigs and two miscellaneous…

July 15, 2022
Natural Gas Futures Drop as Traders Continue Assessing Balances Amid Strong Summer Heat

Natural Gas Futures Drop as Traders Continue Assessing Balances Amid Strong Summer Heat

As traders continued to assess balances following the latest round of government inventory data, weighing strong summer heat against weakened export volumes, natural gas futures retreated early Friday. The August Nymex contract was off 10.7 cents to $6.493/MMBtu at around 8:50 a.m. ET. The Energy Information Administration (EIA) on Thursday reported a net 58 Bcf…

July 15, 2022
Ample Summer Heat Spurs Broad Gains for Natural Gas Forwards

Ample Summer Heat Spurs Broad Gains for Natural Gas Forwards

A sweltering summer temperature outlook overshadowed ongoing demand destruction from the Freeport LNG terminal outage to send natural gas forwards prices soaring during the July 7-13 trading period, NGI’s Forward Look data show. Fixed price trading for August delivery at benchmark Henry Hub surged $1.179 higher week/week to $6.690/MMBtu. That established the baseline for fixed…

July 14, 2022
Nexus Natural Gas Pipeline Exports to Canada Upheld

Nexus Natural Gas Pipeline Exports to Canada Upheld

A federal appeals court has upheld FERC’s approval of the Appalachia-to-Midwest Nexus Gas Transmission pipeline, siding with the Commission’s assessment of the public benefits of exported gas as part of its certificate decision. Responding to a challenge filed by the City of Oberlin, OH, the U.S. Court of Appeals for the District of Columbia Circuit…

July 14, 2022
Brent Seen Averaging $104 in 2022, but Uncertainty Surrounds War in Ukraine, Economic Activity

Brent Seen Averaging $104 in 2022, but Uncertainty Surrounds War in Ukraine, Economic Activity

Brent crude oil prices are on track to average $104/bbl in 2022, a sharp increase from an average price of $71 for the global benchmark in 2021, updated modeling from the Energy Information Administration (EIA) shows. The horizon remains clouded by uncertainty surrounding economic activity and the effects of Russia’s invasion of Ukraine, researchers said…

July 14, 2022
July Cooling Demand Bolsters Natural Gas Futures as Traders Await Storage Data

July Cooling Demand Bolsters Natural Gas Futures as Traders Await Storage Data

A robust cooling demand outlook into the second half of July supported further gains for natural gas futures early Thursday as traders prepared to assess the latest government inventory data.  The August Nymex contract was up 19.0 cents to $6.879/MMBtu at around 8:50 a.m. ET, extending a 52.6-cent rally from the previous session.  Surveys ahead…

July 14, 2022
Sweltering Temps, Production Losses Support Early Natural Gas Futures Gains

Sweltering Temps, Production Losses Support Early Natural Gas Futures Gains

Amid continued production weakness in updated estimates, along with sweltering summer temperatures in the latest forecasts, natural gas futures rebounded in early trading Wednesday.  After settling 26.3 cents lower in the previous session, the August Nymex contract had recovered those losses as of around 8:50 a.m. ET. The front month was up 35.7 cents to…

July 13, 2022
EIA Slashes 2H2022 Forecast for U.S. LNG Exports in Wake of Freeport Outage

EIA Slashes 2H2022 Forecast for U.S. LNG Exports in Wake of Freeport Outage

U.S. LNG exports are now expected to drop to 10.5 Bcf/d in the second half of this year following the prolonged outage at the Freeport LNG terminal on the Texas coast, the Energy Information Administration (EIA) said in an updated forecast. The 10.5 Bcf/d estimate for liquefied natural gas exports in the second half of…

July 12, 2022
Production Declines, Impressive Heat Lift Natural Gas Futures in Early Trading

Production Declines, Impressive Heat Lift Natural Gas Futures in Early Trading

Weaker production numbers day/day and continued sweltering heat in updated forecasts helped natural gas futures extend their recent gains in early trading Tuesday. Coming off a 39.2-cent rally in the previous session, the August Nymex contract was up another 20.3 cents to $6.629/MMBtu at around 8:50 a.m. ET. Lower 48 production estimates as of early…

July 12, 2022