Story of the day
Natural Gas Futures Stage Late Advance as Market Digests Slightly Bullish Storage Pull
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, 2024Markets
Natural Gas Futures Gains Diminished as EIA Reports Storage Draw Above Expectations
Natural gas futures trimmed early gains Thursday following the U.S. Energy Information Administration (EIA) storage report, which outlined a larger-than-anticipated 36 Bcf withdrawal for the week ended March 22. Ahead of the 10:30 a.m. ET release of the latest storage data, May New York Mercantile Exchange natural gas futures were trading 2.0 cents higher day/day…
March 28, 2024Natural Gas Prices
Attack on Ukrainian Storage Site Pushes European Natural Gas Prices Higher
Ukrainian natural gas storage operator Ukrtransgaz JSC said a Russian attack on its infrastructure caused no major damage, but withdrawal capacities at the facility would be limited until repairs are completed. Natural gas withdrawals were halted after the strike on Sunday (March 24). However, the company was able to compensate for the limited withdrawals with…
March 28, 2024Recent News
Markets
Natural Gas Futures Gains Diminished as EIA Reports Storage Draw Above Expectations
Mar 28, 2024Natural Gas Prices
Attack on Ukrainian Storage Site Pushes European Natural Gas Prices Higher
Mar 28, 2024Energy Transition