Kevin Dobbs

Natural gas futures on Thursday lost ground for the sixth time in seven sessions after the latest federal inventory report disappointed for a second straight week and forecasts called for easing weather demand. The April Nymex contract settled at $2.668/MMBtu, down 2.4 cents day/day. May shed 2.5 cents to $2.703. NGI’s Spot Gas National Avg.…

A week after extending production cuts, the Organization of the Petroleum Exporting Countries (OPEC) on Thursday raised its forecast for world oil demand in 2021, reflecting the cartel’s expectations for a stronger economic recovery in the second half of the year. OPEC, in its Monthly Oil Market Report (MOMR) released Thursday, said it now expects…

The U.S. Energy Information Administration (EIA) on Thursday said natural gas storage for the week ended March 5 declined by 52 Bcf, a reduction that fell short of expectations. It marked the second straight substantial miss for analysts.  Ahead of the EIA report, the April Nymex natural gas contract was down 2.0 cents at $2.672/MMBtu.…

BREAKING: U.S EIA reports natural gas storage for the week ended March 5 declined by 52 Bcf, a reduction that fell short of expectations NGI’s Spot Gas National Avg. eked out a 1.5-cent gain to $2.485 on Wednesday, snapping a four-day losing streak amid comfortable spring temperatures Natural gas futures avoided falling further into the red on Wednesday…

Natural gas futures avoided falling further into the red on Wednesday despite expectations for a modest storage withdrawal and forecasts that called for continued mild weather and light heating demand. The April Nymex contract settled at $2.692/MMBtu, up 3.0 cents day/day. The prompt month had declined the five previous trading sessions. May advanced 3.2 cents…

U.S. oil inventories jumped last week, marking a second consecutive spike as refineries continued to operate well below capacity in the aftermath of the February Arctic freeze that upended the Texas energy system. Domestic commercial crude oil inventories for the week ended March 5 — excluding those in the Strategic Petroleum Reserve — increased by…

Forecasts called for light heating demand LNG feed gas volumes tampered off Analysts anticipate a light storage withdrawal Natural gas futures on Tuesday finished in the red for a fifth consecutive session, as traders mulled forecasts for light heating demand, a leveling off of liquefied natural gas (LNG) levels and early expectations for a light…

Natural gas futures on Tuesday finished in the red for a fifth consecutive session, as traders mulled forecasts for light heating demand, a leveling off of liquefied natural gas (LNG) levels and early expectations for a light storage withdrawal. The April Nymex contract declined two-tenths of a cent day/day and settled at $2.662/MMBtu. May declined…

Domestic crude oil production in 2020 dropped 8% from the prior year in response to the demand hits caused by the coronavirus pandemic, the U.S. Energy Information Administration (EIA) said Tuesday. A record hurricane season further complicated matters.  The 935,000 b/d decline to an average 11.3 million b/d last year marked the steepest annual decrease…