Natural gas futures extended their gains on Monday as weather models continued to show cold over much of the Lower 48 for early to mid-March and Freeport LNG stayed on its path toward full operations. With some nascent technical momentum also in play, the newly prompt April Nymex natural gas contract settled at $2.731/MMBtu, up…
Articles from April
North Dakota Oil, Natural Gas Production Climb in April
North Dakota exceeded its monthly production level projections for April, but it may be losing its bragging rights to New Mexico as the second largest oil producing state. Oil production was up 1% in April month/month to 33.6 million bbl, or 1.126 million b/d. Natural gas output grew at a 3.1% rate to 88.89 Bcf,…
Warm April Outlook Giving Bears Upper Hand as Natural Gas Futures Called Lower
With little support from forecasts showing a warm pattern moving in during the first week of April, natural gas futures were trading slightly lower early Tuesday. The soon-to-expire April Nymex futures contract was down 0.5 cents to $2.750/MMBtu at around 8:30 a.m. ET, while the May contract was off 0.6 cents to $2.768.
April’s U.S. Natural Gas Injections Lowest in 35 Years, Says EIA
April natural gas storage injections could prove to be the lowest for the fourth month of the year since 1983, the Energy Information Administration (EIA) said Tuesday.
April NatGas Forwards Mostly Lower on Robust Supply; Some Markets Surge on Depleted Storage, Pipe Restrictions
April natural gas prices fell an average 6 cents from March 16-22 as not even a cold weather forecast for early April could turn traders’ attention from near-record production, according to NGI’s Forward Look.
April NatGas Barely Higher on Colder March; New England Brushes Off Bomb Cyclone II
Natural gas forward prices for April averaged 2 cents higher from Feb. 23 to March 1 as March comes roaring in like a lion, with several cold snaps following a mostly mild February, which could perhaps lead to heftier storage withdrawals in the coming weeks, according to NGI’s Forward Look.
Rigs Wet Their Bits in Oil But Mostly Keep Their Feet Dry
Compared with one year ago, the U.S. land-based rig count is up 125% as drillers continue returning to their favorite shale patches. Over the same period, the U.S. offshore rig count has languished, up two units during the week ending Friday but still down by one rig from a year ago, according to Baker Hughes Inc.
Rig Gains Could Be Poised to Slow; Analysts See More NatGas in Q4
The U.S. land-based rig count posted a modest gain of four during the week just ended, according to Baker Hughes Inc. (BHI), and the pace of rig gains could slow in the months ahead, according to some. Meanwhile, analysts are awaiting the additional gas supply yet to come from rigs already added.
Two U.S. NatGas Rigs Return as Pace of Gains Predicted to Slow
The U.S. natural gas rig count added two units during the week just ended, according to Baker Hughes Inc. (BHI). Six oil rigs were added. The gains were modest compared with some recent counts, and a slowing of rig additions could be on the way, some say.
NatGas Forwards Weaken as Market Juggles Storage, Weather, Other Factors
Natural gas futures and forwards markets were lower across the curve for the period between April 13 and 20, with May shedding an average 6 cents as another retraction in the storage surplus and forecasts for mostly mild weather in the coming weeks pressured the market, according to NGI’s Forward Look.