After another week of turbulent swings in the natural gas market, bulls and bears appeared ready to take a breather on Friday. November Nymex gas futures still gyrated in a more than 30-cent range, but were poised to settle nearly flat on the day before a late-session sell-off ended with the contract off 11.2 cents…
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Domestic Supply Fears Easing as Natural Gas Forwards Retreat from Highs
A jittery natural gas market bracing for a winter of extreme pricing turned in a week of volatile trading for the Sept. 30-Oct. 6 time frame, but forward prices trended lower overall as mild weather and rising stockpiles soothed nerves over the domestic supply situation. Forward prices at most trading locations took their cues from…
Natural Gas Futures Crumble; Bears Emboldened by European Price Drop, Mild Weather Outlook
There was no getting off the world’s scariest roller coaster on Wednesday. After blasting to a $6.466/MMBtu intraday high, November natural gas prices plummeted all the way back down to $5.663. The prompt Nymex contract ultimately settled at $5.675, off 63.7 cents from Tuesday’s close. December plunged to $5.803. Spot gas prices also tumbled from…
‘Panic-Driven’ Market Sends Global Natural Gas Swinging Through Another Chaotic Day
Wednesday marked another chaotic swing for global energy markets as prices in Europe slid from astronomical highs to finish lower on the day and liquefied natural gas (LNG) spot prices in Asia were assessed at a record of nearly $60/MMBtu. In Europe this week, wrangling has continued over how to best regulate the start-up of…
Global Natural Gas Market Braces for Energy Shortages, Sending Prices Higher — LNG Recap
Natural gas prices across the world jumped again Monday as fundamentals remain unchanged and the global market braces for energy shortages this winter. In Europe, prices bounced back from a technical correction on Friday, a day after Dutch and British futures settled well above $33/MMBtu and set new records. The Title Transfer Facility (TTF) finished…
LNG Freight Rates Move Higher as Winter Nears in an Already Volatile Market
Friday kicked off the heating season across the Northern Hemisphere and liquefied natural gas (LNG) freight rates also started their annual ascent. This year could be different. Europe and Asia are locked in a fierce battle for cargoes as inventories remain low and prices have hit new records with benchmarks soaring above $30/MMBtu in both…
Global Supply Fears Drive Huge Gains for U.S. Natural Gas Forwards Despite Improving Lower 48 Backdrop
Fueled by a potential wintertime energy shortage overseas, U.S. natural gas forward prices rebounded sharply from the prior week’s bruising. November prices surged by an average 42.0 cents during the trading period from Sept. 23-29, while the winter strip (November-March) jumped 49.0 cents on average, according to NGI’s Forward Look. Gains at the front of…
Fears Deepen Over Global Energy Shortage as Commodity Prices Continue Hitting Records
Concerns that the world won’t have enough energy supplies to go around this winter appeared to deepen on Thursday as natural gas prices again set records and governments continued stepping in to ensure the lights stay on. Coal, natural gas and even water for hydropower are in short supply. In North Asia, Japan-Korea Marker (JKM)…
Global Natural Gas Rally Continues as Fears Grow Over Winter Energy Shortages — LNG Recap
Natural gas prices across the world climbed higher on Tuesday, fueled by the prospect that there will be energy shortages from Europe to Asia this winter. British and Dutch benchmarks closed higher Tuesday, beating an all-time record set Monday after finishing close to $30/MMBtu. In the United States, prices also continued climbing toward $6 as…
TotalEnergies Sees Oil Demand Plateauing, but Natural Gas Key to Energy Transition
Global oil demand should plateau earlier than estimated, likely before 2030, but natural gas will continue to play a key role in the energy transition, TotalEnergies said Monday. The Paris-based multi-energy major provided its third annual short-term forecast in the Energy Outlook (EO) 2021. Ahead of the upcoming United Nations (UN) Climate Change Conference, also…