Kevin Dobbs

Natural gas futures traded in a narrow range most of Thursday, ultimately closing in the red following a government inventory report that reminded of the demand weakness that permeated the U.S. market through early 2023. At A Glance: EIA prints 100 Bcf storage draw Production remains strong Demand outlook uncertain The March Nymex gas futures…

The U.S. Energy Information Administration (EIA) posted a pull of 100 Bcf natural gas from storage for the week ended Feb. 10, coming in close to expectations but below historical averages. The pull kept inventories comfortably above five-year average levels at a time when winter heating demand has proven relatively weak and production strong. Output…

U.S. crude production held firm at a pandemic-era high as new forecasts called for rising global demand tied to an expected surge in Chinese travel fuel consumption. American producers generated 12.3 million b/d for the week ended Feb. 10, on par with the prior week and the high mark of the past nearly three years,…

U.S. inflation held at lofty levels but the pace of consumer cost increases edged lower in January, in part due to soft natural gas prices, extending a seven-month trend of easing expense pressure. The Labor Department’s Consumer Price Index increased 6.4% in January from a year earlier – more than three times the 2% level…

Foothills Exploration Inc. closed a deal to acquire a string of natural gas and oil wells in the Midcontinent region in a bid to capitalize on the enduring strength of demand for fossil fuels. The Los Angeles-based exploration and production (E&P) company said Monday it acquired 21 shallow oil and gas wells, all located in…

Russia said it would cut its roughly 10 million b/d oil production by 5% in retribution of Western sanctions amid the Kremlin’s nearly year-long war in Ukraine. The decision follows steps by Russia in 2022 to slash the bulk of natural gas exported via pipeline to the European Union (EU) – moves that hastened calls…

Russia said it would cut its roughly 10 million b/d oil production by 5% in retribution of Western sanctions amid the Kremlin’s nearly year-long war in Ukraine. The decision follows steps by Russia in 2022 to slash the bulk of natural gas exported via pipeline to the European Union (EU) – moves that hastened calls…

U.S. natural gas prices are expected to prove volatile through much of 2023, though the lofty $10 handle approached last summer appears far from reach, given ample supplies and the specter of a recession. Such is the assessment of the Energy Information Administration (EIA) in a report released Thursday. In the supplement to its latest…

Weakened natural gas prices – following a massive run-up last summer – intersected with rising interest rates to ease inflation that had only a few months ago reached a 40-year high. Further New York Mercantile Exchange gas futures price drops early this year, owing in part to relatively benign winter weather across most of January,…