Kevin Dobbs

After a five-day rally fueled by blistering heat and surging cash prices, natural gas futures faded on Tuesday as export volumes retreated, technical resistance loomed and traders took profits. The July Nymex contract dipped 11.2 cents day/day and settled at $3.240/MMBtu. August slid 11.1 cents to $3.256. NGI’s Spot Gas National Avg. shed 13.5 cents…

Natural gas futures on Monday rallied for a fifth consecutive day as simmering summer heat, a recovery in liquefied natural gas (LNG) levels and supply pressures collectively provided further price support. The July Nymex contract settled at $3.352/MMBtu, up 5.6 cents day/day. August rose 5.6 cents to $3.367. Strong near-term weather demand also boosted cash…

Natural gas futures on Monday rallied for a fifth consecutive day as simmering summer heat, a recovery in liquefied natural gas (LNG) levels and supply pressures collectively provided further price support. The July Nymex contract settled at $3.352/MMBtu, up 5.6 cents day/day. August rose 5.6 cents to $3.367. Strong near-term weather demand also boosted cash…

Federal authorities must apply more scrutiny to potential impacts on greater sage grouse across hundreds of oil and natural gas leases in Wyoming and Montana before authorizing new drilling, a federal judge in Idaho has ruled. Magistrate Judge Ronald Bush ruled that the Interior Department’s Bureau of Land Management (BLM), under former President Trump, failed…

U.S. oil producers overall have been reluctant to ramp up output even as crude prices climb and demand rebounds. They have focused on generating cash flow and exercised patience as the economy recovers from the pandemic. But shortages of supplies needed for drilling and resulting inflation amid coronavirus fallout could extend the trend and keep…

An acceleration in travel and economic activity should hasten the resurgence in global oil demand in the second half of 2021, cutting into supplies and justifying increased crude production, the Organization of the Petroleum Exporting Countries (OPEC) said Thursday.  In its closely watched Monthly Oil Market Report, the Saudi-led cartel affirmed expectations it reported a…

Demand for U.S. petroleum fell for a second consecutive week, while crude production rebounded, the U.S. Energy Information Administration (EIA) said Wednesday. Refinery utilization, however, reached a 2021 high, the agency said in its Weekly Petroleum Status Report (WPSR). Refineries operated at 91.3% of their capacity and inputs averaged 15.9 million b/d during the week…

Robust needs for U.S. exports across Asia, Europe and Mexico – coupled with expectations for another sizzling summer domestically – could keep supply/demand balances tight and upward price pressure firmly in place this summer, industry experts said. The upbeat outlook developed across an LDC Gas Forums Southeast conference panel moderated Tuesday by NGI’s James Alston,…

The chief executive of the pipeline operator that was temporarily crippled by a ransomware attack last month apologized to Americans. During testimony before a Senate panel on Tuesday, he acknowledged that Colonial Pipeline was susceptible to hackers and that it is still grappling with challenges caused by the infiltration. “We are deeply sorry for the…