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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Natural Gas Futures Strengthen Along Curve as Market Eyes Production Drop — MidDay Market Snapshot
Big swings on lighter volume for March Nymex contract into expiry, closes down 4.4 cents at $1.615/MMBtu Gains for 2024 injection season contracts Tuesday as latest production samples pointing to easing output; April Nymex contract climbs 6.4 cents to $1.808 Bloomberg estimated Lower 48 production down to around 101.3 Bcf/d; Wood Mackenzie estimate at 101.7…
More Evidence of Declining Production Sees Natural Gas Advance Early
Continued signs of easing production volumes in updated estimates Tuesday helped lift April natural gas futures in early trading. The April Nymex contract, set to take over as the new prompt month after the close, was up 5.0 cents to $1.794/MMBtu at around 8:45 a.m. ET. The expiring March contract, meanwhile, was off fractionally on…
Natural Gas Futures Head for Positive Session But Fall from Morning Highs — MidDay Market Snapshot
Natural gas futures retreat from early highs as market continues monitoring signs of production decline Expiring March Nymex contract trading at $1.656 as of 2:28 p.m. ET, up 5.3 cents day/day but off from $1.730 high Bloomberg estimates put domestic production at 102.5 Bcf/d for Monday; Wood Mackenzie’s estimate at 102.9 Bcf/d Per Gelber &…
Natural Gas Futures Rally Early as Volatility Expected into Expiry; Production Weaker
With heightened volatility expected heading into the front month expiration this week, and amid hints of weaker production in recent estimates, natural gas futures rallied sharply in early trading Monday. After selling off 12.9 cents on Friday, the March Nymex contract was up 10.0 cents to $1.703/MMBtu at around 8:45 a.m. ET. April was up…
Natural Gas Forwards Rally as Chesapeake Cuts Provide Uplift for 2024 Strip
A wave of bullish optimism, tied to the production cuts announced recently by Chesapeake Energy Corp., also lifted regional natural gas forwards higher during the Feb. 15-21 trading period, NGI’s Forward Look data show. For numerous Lower 48 trading locations, the most pronounced week/week fixed price gains occurred further along the strip during the 2024…
Natural Gas Futures Giving Back Midweek Gains — MidDay Market Snapshot
Natural gas futures headed for large sell-off Friday as midweek rally fizzles on blowtorch temps March Nymex contract down 12.7 cents to $1.605/MMBtu as of 2:20 p.m. ET, near pre-rally levels prior to Chesapeake Energy Corp. releasing production guidance Heating demand over next 15 days “would rank among some of the warmest late February and…
U.S. Natural Gas Drilling Total Off One to 120; Oil Count Climbs
Natural gas-directed drilling activity held steady in the United States for the week ended Friday (Feb. 23) at 120 rigs, down one week/week, while an uptick in oil drilling lifted the combined domestic tally five units to 626, updated Baker Hughes Co. (BKR) data show. Total domestic natural gas rigs ended the period down 31…
Late Winter Cold a No-Show in Updated Forecasts as Natural Gas Futures Retreat Further
A bearish weather outlook well into the month of March kept the pressure on natural gas futures early Friday as the front month conceded further ground following a midweek rally. The March Nymex contract was off 11.7 cents to $1.615/MMBtu at around 8:50 a.m. ET; April was down 10.1 cents to $1.731. Forecasts have seemingly…
Sparked by Chesapeake Cuts, Natural Gas Forwards Rally Across 2024 Strip
A wave of bullish optimism, tied to the production cuts announced recently by Chesapeake Energy Corp., also lifted regional natural gas forwards higher during the Feb. 15-21 trading period, NGI’s Forward Look data show. For numerous Lower 48 trading locations, the most pronounced week/week fixed price gains occurred further along the strip during the 2024…
Natural Gas Futures Climb from Intraday Lows; Cash Weak — MidDay Market Snapshot
Prices pulling back after midweek rally, but front month trading higher versus intraday lows March Nymex contract dipped to $1.661/MMBtu shortly after bearish 60 Bcf withdrawal reported by U.S. Energy Information Administration (EIA) March trading at $1.717 as of 2:20 p.m. ET, down 5.6 cents day/day; April down 4.6 cents to $1.817 American weather model…