storage Oct. 8

Like Autumn Leaves, Weekly Spot Natural Gas Prices Fall on Mild Weather

Though power burns have been persistently strong throughout the summer and into the fall, rising wind generation this week stole some market share from natural gas.  Spot gas prices tumbled from last week’s levels as weather proved pretty close to perfect across much of the country during the Oct. 11-15 period. NGI’s Weekly Spot Gas…

Natural Gas Futures Finish Week Down Sharply as Mild Weather Seen Lingering; Cash Crumbles

Natural gas futures closed the week lower as the latest storage data — the tightest all summer — was seen as a one-off event amid an otherwise bearish backdrop. With the coming two weeks likely to include only a few days of cool weather, the November Nymex gas futures contract fell 22.0 cents to $5.345/MMBtu.…

October 18, 2021

California Court Strikes Down Monterey County’s Ban on New Oil, Gas Drilling

A Northern California county has lost an appeal to curb oil and natural gas development following an appeals court ruling. Monterey County voters in November 2016 approved Measure Z, a ballot initiative to prohibit new drilling activities in unincorporated areas. San Ramon, CA-based Chevron Corp. and other producers then filed a lawsuit, arguing the county…

October 18, 2021

Texas Oil, Gas Permitting Continues Recovering and California Requests Rising

The monthly U.S. oil and gas permit count was nearly flat in September from August, with activity in the Eagle Ford Shale and some smaller Lower 48 plays offsetting declines in the Powder River and Permian basins, according to Evercore ISI. Each month the Evercore team compiles federal and state permitting data to note the…

October 18, 2021

Natural Gas Futures Called Lower After Weekend Weather Model Volatility

As traders weighed a bearish weather outlook domestically against new developments on the overseas supply crunch, natural gas futures fell sharply in early trading Monday. The November Nymex contract was down 24.0 cents to $5.170/MMBtu at around 8:45 a.m. ET. The major weather models experienced some volatility over the weekend, according to Bespoke Weather Services.…

October 18, 2021