JPMorgan CEO says Ukraine War Fallout Proves Essential Role of Natural Gas, Oil

For all the concern about climate change – a worry he shares – JPMorgan Chase & Co.’s chief executive said the world’s current and foreseeable energy needs cannot be met without natural gas and oil. JPMorgan’s Jamie Dimon said Russia’s war in Ukraine amplified the significant role of both energy sources. He noted the surge…

Modest Storage Draw Fails to Stop Natural Gas Futures Price Rally; West Coast Cash North of $30/MMBtu

Disappointing storage data notwithstanding, natural gas futures prices surged well past $6.00/MMBtu Thursday as traders appear convinced that colder weather is coming next week – and may even stick around. The January Nymex natural gas futures contract simmered down a little and eventually settled at $5.962, up 23.9 cents on the day. February futures climbed…

December 8, 2022

Western Natural Gas Forwards Soar on Cold, Pipeline Constraints Despite Discounts Elsewhere

Soaring premiums along the West Coast and deep discounts for the rest of the Lower 48 produced a week of varied price action for regional natural gas forwards during the Dec. 1-7 trading period, NGI’s Forward Look data show. Amid reports of a curtailment in volumes flowing through Gas Transmission Northwest’s (GTN) Kingsgate location along…

December 8, 2022

Waha Prices Plunge Again, but Potential Colder Weather Excites Natural Gas Bulls – Mexico Spotlight

North American natural gas prices slumped for most of the week before the potential for colder weather provided a minor rally Wednesday and Thursday. The New York Mercantile Exchange January natural gas futures contract settled at $5.962/MMBtu, up 23.9 cents on the day. February futures climbed 20.3 cents to $5.820. Mild weather and U.S. production…

December 8, 2022

Trafigura Reports Record $7B Profit Despite Decline in Oil, LNG Trading

Commodity trader Trafigura Group Pte. Ltd. said Thursday the outage at the Freeport LNG terminal in Texas has removed much needed supply and “significant flexibility” from its portfolio, but said the scale of its operations have offset issues and helped it turn in record profits for 2022. Trafigura, a dominant trader in the global liquefied…

December 8, 2022