Average

January natural gas is set to open 3 cents higher Thursday morning at $3.63 in spite of weather forecasts calling for slightly less cold, and expectations of a government storage report expected to show an increasing surplus. Overnight oil markets were mixed.

Growing domestic consumption of natural gas and increasing exports, both via pipelines to Mexico and liquefied natural gas to other markets, will help to boost prices next year higher than previously forecast, according to the Energy Information Administration (EIA).

December natural gas is expected to open 7 cents lower Thursday morning at $2.62 as traders continue to juggle ongoing warmth, which now looks likely to push injections through November, and weekly storage figures likely to show storage at all-time record levels. Overnight oil markets were mixed.

December natural gas is set to open 6 cents higher Monday morning at $2.83 as weather models for the near term dial up a more seasonal outlook. Overnight oil markets were mixed.

The steep losses that were seen as November rolled off the natural gas forwards curve paled in comparison to the cannonball splash December made during its first week at the front of the curve, when prices plummeted an average 34.4 cents between Oct. 28 and Nov. 3, and several markets lost upwards of 50 cents, according to NGI’s Forward Look.

The steep losses that were seen as November rolled off the natural gas forwards curve paled in comparison to the cannonball splash December made during its first week at the front of the curve, when prices plummeted an average 34.4 cents between Oct. 28 and Nov. 3, and several markets lost upwards of 50 cents, according to NGI’s Forward Look.

A steady, monthly improvement in Patterson-UTI Energy Inc.’s (PTEN) U.S. onshore rig count has been evident since May, with the company’s average in October expected to increase to 63 from 55 at the end of June, CEO Andy Hendricks said Thursday.

November natural gas is set to open 7 cents lower Friday morning at $3.07 as overnight weather model runs turn milder. Petroleum markets rose.

Freeport-McMoRan Inc.’s (FCX) lofty goal to expand its oil and natural gas exploration unit has fallen to earth with a thud after the company announced another piece of its portfolio is being sold: the onshore California oil and natural gas properties.