Leticia Gonzales

Although there are “significant challenges” in the current oil environment, NGL Energy Partners LP management struck an optimistic tone for the second half of the year as customers are “ready to ramp up production” in the coming months.

Natural gas futures climbed Wednesday as much of the fundamental supply/demand backdrop became increasingly supportive of prices. Prices rallied strongly early in the session, but then gave up some ground, leaving the July Nymex gas futures contract up 4.4 cents to $1.821. August picked up 3.9 cents to settle at $1.915.

The average cost of energy savings to investor-owned utilities (IOU) and other programs in a dozen states has remained steady in the last six years, tracking well below the cost of natural gas, according to a new study by theLawrence Berkeley National Laboratory (Berkeley).

Natural gas futures capped the week in positive territory, but the weight of bloating storage inventories and U.S. export concerns were on full display. The July Nymex gas futures contract hit a $1.763/MMBtu intraday low and traded in the red throughout most of Friday’s session before settling the day at $1.849, up 2.2 cents from Thursday’s close. August was up 2.1 cents to $1.940.

A mild start to the summer, combined with demand that continues to struggle amid the coronavirus pandemic, weighed down June natural gas bidweek prices. Although pockets of heat boosted prices in California, small losses were seen in most markets across the Lower 48, sending NGI’s June Bidweek National Avg. down 8.5 cents to $1.545/MMBtu.

Natural gas futures continued to slide Thursday as the latest government storage data failed to reflect enough tightening in the supply/demand balance to support prices. The July Nymex contract, on its first day in the prompt-month position, settled 5.9 cents lower at $1.827/MMBtu. August fell 5.3 cents to $1.919.

With liquefied natural gas (LNG) feed gas volumes sinking to fresh lows and overall demand still lagging amid the coronavirus pandemic, June natural gas forward prices softened for the May 21-27 period, according to NGI’s Forward Look.

Natural gas futures capped the week in positive territory, but the weight of bloating storage inventories and U.S. export concerns were on full display. The July Nymex gas futures contract hit a $1.763/MMBtu intraday low and traded in the red throughout most of Friday’s session before settling the day at $1.849, up 2.2 cents from Thursday’s close. August was up 2.1 cents to $1.940.

Temperatures across the United States may be pleasant, but that hasn’t stopped power burns from coming in strong and boosting NGI’s Weekly Spot Gas National Avg. up by 4.5 cents to $1.660 for the May 25-28 period.