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Abundant Western Canadian Natural Gas Supplies Support Seismic Pacific Storage Rebound
Markets
May Natural Gas Futures Slide on First Day in Front Position; Holiday Weekend Deflates Cash Prices
The May Nymex natural gas futures contract crumbled in its premiere session in the lead position, anchored to the downside amid a plethora of bearish fundamentals, most notably abundant supply met by a shortage of demand. At A Glance: Prompt month sheds 7.0 cents Storage withdrawal expected Bearish spring weather ahead The newly anointed front-month…
March 27, 2024Regulatory
California Natural Gas Ban in Berkeley Halted Following Settlement
The first-in-the-nation natural gas ban in Berkeley, CA, is no more after city officials agreed to halt enforcement. The agreement with the California Restaurant Association (CRA), to halt enforcement of the city’s ban on new natural gas pipelines, was anticipated following a ruling by the U.S. Court of Appeals for the Ninth Circuit. The appeals…
March 27, 2024Mexico
Mexico Presidential Frontrunner Sheinbaum Promises Dominant CFE, Pemex if Elected
Claudia Sheinbaum, Mexico’s presidential candidate for the ruling Morena Party, seeks continuity for the national energy sector. In a March 18 speech to commemorate the anniversary of state oil company Petróleos Mexicanos (Pemex), Sheinbaum said her administration would follow the path of the Andrés Manuel López Obrador government and continue to prioritize the dominant role…
March 27, 2024Markets
Natural Gas Prices Fading as Soft Demand from Holiday Weekend Looms — MidDay Market Snapshot
Near-term demand weakness, including from a milder shoulder season temperature outlook and declining export volumes, had natural gas futures trading lower through midday Wednesday. Physical prices for multi-day delivery over the upcoming holiday weekend saw heavy discounts. Here’s the latest: May Nymex contract down 7.5 cents to $1.713/MMBtu as of 2:21 p.m. ET NGI modeling…
March 27, 2024Trending News
Natural Gas Prices
Abundant Western Canadian Natural Gas Supplies Support Seismic Pacific Storage Rebound
Mar 27, 2024International