Story of the day
California Natural Gas Ban in Berkeley Halted Following Settlement
Markets
Natural Gas Forwards Continue to Struggle as Market Wrestles with Storage Glut
As an outsized storage surplus continued to hang over the outlook, regional natural gas forward prices shed value during the March 21-27 trading period, NGI’s Forward Look data show. Front month fixed prices at benchmark Henry Hub fell 12.7 cents for the period to end at $1.577/MMBtu. However, the benchmark also saw double-digit losses for…
March 28, 2024E&P
U.S. Natural Gas Drilling Rig Count Flat Week/Week, but Oil Count Down, BKR Data Show
The domestic natural gas rig count held steady at 112 for the week ended Thursday (March 28), while a decline in oil activity lowered the combined domestic drilling tally by three to 621, the latest Baker Hughes Co. (BKR) data show. The combined oil and gas U.S. rig count for the week, which was 621,…
March 28, 2024LNG
Japan’s Low LNG Inventories Could Spur Spot Buying – Three Things to Know About the LNG Market
NO. 1: Japan’s LNG inventories have hit the lowest level in years. Stocks fell 5% week-over-week on March 24 to 1.52 million tons (Mt), according to the Ministry of Economy, Trade and Industry. Stockpiles are below the five-year average of 2.14 Mt. Jera Co. Inc. was reportedly implementing planned outages at four gas-fired power plants…
March 28, 2024Markets
Natural Gas Futures Finding Second Wind — MidDay Market Snapshot
Natural gas futures were rallying through midday Thursday as the market continued to mull the balance implications of a storage result that landed on the bullish end of expectations. Cash prices, traded for Monday delivery, were generally pushing higher. Here’s the latest: May Nymex contract up 4.8 cents to $1.766/MMBtu at around 2:10 p.m. ET,…
March 28, 2024Trending News
Markets
Natural Gas Futures Gains Diminished as EIA Reports Storage Draw Above Expectations
Mar 28, 2024Natural Gas Prices