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Natural Gas Futures Rally Above $2 on LNG Rebound, Supply Slowdown; Cash Jumps
Earnings
Enterprise Shakes Off Impact from Weak Permian Natural Gas Prices
The exploration and production sector may be feeling the heat from slumping natural gas prices, but they had little impact on Enterprise Products Partners LP’s Permian Basin operations during the first quarter, executives said Tuesday. Driven by its operations in West Texas, natural gas transportation volumes during 1Q2024 improved from a year ago to 18.6…
April 30, 2024International
Egypt Again Halts LNG Exports to Meet Domestic Demand This Summer
Egypt has halted all LNG exports beginning in May as lower domestic natural gas production has forced the North African country to divert supply to local power demand during the summer months. Last year was Egypt’s hottest summer on record, with temperatures surpassing 95 F. This summer is forecast to have similar temperatures. Egypt’s Ministry…
April 30, 2024Natural Gas Prices
Depth of Natural Gas Production Drop Questioned as Prices Fail to Find Momentum
Nobody is questioning the downward direction of natural gas production over the past two months, a trend hastened by soft demand during a mild winter that put prices persistently near four-year lows. Major exploration and production (E&P) companies, including Chesapeake Energy Corp. and EQT Corp., announced curtailments to activity during the first quarter – cutbacks…
April 30, 2024Natural Gas Prices
Technicals Point to Oversold Natural Gas Futures Ready for Upside
Technical market indicators suggest a bottom could be near for the newly anointed prompt-month June futures contract on the New York Mercantile Exchange (Nymex). June futures settled down 6.3 cents at $1.923/MMBtu on Friday (April 26). On Monday, the contract’s first day in the lead position, losses were reversed as June increased 10.7 cents to…
April 30, 2024Recent News
Natural Gas Prices
