Kevin Dobbs joined the staff of NGI in April 2020. Prior to that, he worked as a financial reporter and editor for S&P Global Market Intelligence, covering financial companies and markets. Earlier in his career, he served as an enterprise reporter for the Des Moines Register. He has a bachelor's degree in English from South Dakota State University.
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Articles from Kevin Dobbs
Supply Glut, Massive Storage Surplus Whack West Texas Natural Gas Spot Prices
Strong Permian Basin production of oil and, by extension, associated gas continues to propel supplies in West Texas and depress prices in the region. Natural gas production nationally reached record levels around 107 Bcf/d early this year, according to Wood Mackenzie estimates. But leading exploration and production (E&P) companies, including Chesapeake Energy Corp. and EQT…
Weakest Winter Suppresses Natural Gas Prices but Sizzling Summer Could Flip Script
The winter of 2023-2024 is likely to go down as the warmest on record for the United States. That goes a long way toward explaining why natural gas demand and prices deflated over the course of the heating season. Ahead of an official call later this month by the National Oceanic and Atmospheric Administration (NOAA),…
February Inflation Data Choppy, but Costs Contained Overall Amid Sagging Natural Gas Prices
Slumping natural gas prices offset festering high prices in other corners of the economy and helped to keep overall inflation mostly in check last month. The U.S. Department of Labor said Tuesday its Consumer Price Index (CPI) increased at a rate of 3.2% in the 12-month period through February. That was up from 3.1% the…
Canadian Natural Gas Supply Glut Hampers Prices – Yet Production Cuts Uncertain
Canadian natural gas production and storage are both elevated heading toward shoulder season – much like in the United States – and bearish pressure on prices persists. There are hints that exploration and production (E&P) companies may pull back, following the lead of their Lower 48 brethren and creating the potential for supply/demand balance this…
OPEC Cuts, Global Oil Demand Fuel Potential for Ongoing U.S. Associated Natural Gas Production
Steady global demand for crude and ongoing OPEC production reticence could motivate U.S. oil producers to keep output near record levels this year. In doing so, they could also continue to deliver robust amounts of associated natural gas from the Permian Basin, countering efforts elsewhere to curb supply in the face of low prices. The…
Lofty Natural Gas Storage Levels Keeping Ceiling on U.S. Prices – For Now
Natural gas in U.S. storage remains swollen, reflecting an exceptionally mild winter and record levels of production. The one-two punch weighed on prices through most of the heating season and raised concerns about an enduring bear market. Yet elevated supplies in storage may ultimately lose much of the current bearish bite. Prices see-sawed over the…
March Bidweek Natural Gas Prices Drop as Weak Weather Overshadows Production Cuts
Natural gas prices retreated in March bidweek trading as signs of declining production were eclipsed by paltry weather-driven demand and lofty levels of supply in storage. NGI’s March Bidweek National Avg. fell $1.710 month/month to $1.505/MMBtu. That was down from $2.870 a year earlier. Trading for the latest bidweek period spanned Feb. 23, 26 and…
April Natural Gas Futures Snap Win Streak Amid Swelling Storage Surpluses
Natural gas futures treaded lightly throughout Thursday’s session as traders weighed a seasonally weak storage result against continued signs of a pullback among producers. Following a three-day rally, the April Nymex gas futures contract ultimately settled at $1.860/MMBtu on Thursday, down 2.5 cents day/day. NGI’s Spot Gas National Avg. fell 9.0 cents to $1.480. Wood…
Natural Gas Futures Fail to Sustain Momentum After EIA Prints Lean Storage Result; Cash Called Lower
Natural gas futures treaded lightly throughout Thursday’s session as traders weighed a seasonally weak storage result against continued signs of a pullback among producers. At A Glance: EIA reports 96 Bcf withdrawal Output slips below 102 Bcf/d Weather demand set to fade Following a three-day rally, the April Nymex gas futures contract ultimately settled at…
April Natural Gas Futures See-Saw Following Steeper-Than-Expected Storage Draw
The U.S. Energy Information Administration (EIA) on Thursday reported a withdrawal of 96 Bcf natural gas from storage for the week ended Feb. 23. The result exceeded market expectations for a pull in the high 80s Bcf and briefly boosted Nymex natural gas futures. Ahead of the 10:30 a.m. ET government print, the April futures…