Bidweek

Hamstrung by a growing surplus of natural gas in inventories and with a spring-like February running into a mild March, traders tugged natural gas prices lower for March baseload delivery, according to NGI’s Bidweek Alert (BWA). Losses were largest in the West, where California’s SoCal Citygate traded about $2.20 lower month/month at around $3.170/MMBtu, BWA…

Spooked by the natural gas market’s third-largest storage withdrawal on record that took a huge bite out of the supply surplus, traders sent February baseload prices higher for several U.S. locations on the first day of bidweek trading, according to NGI’s Bidweek Alert (BWA). Gains were strongest in the West, where California’s SoCal Citygate traded…

Absent much convincing cold in the forecast – and near-record production – natural gas prices were trending lower for January baseload delivery, according to NGI’s Bidweek Alert (BWA). Notably, prices fell hardest in the West, a sharp turnaround from this time last year when Winter Storm Elliott slammed large swaths of the country ahead of…

The U.S. Energy Information Administration (EIA) is slashing its winter Henry Hub spot price forecast on a combination of elevated production and weak space heating demand for natural gas so far this season. EIA said in its latest Short-Term Energy Outlook (STEO) it now expects the national benchmark to average $2.80/MMBtu this winter, down 60…

Natural gas prices were trending lower for October bidweek, dragged down by moderate temperatures, soft LNG demand and a host of other bearish factors as the fall shoulder season gets underway, according to NGI’s Bidweek Alert. California led the month/month price decreases as prices at the SoCal Citygate plummeted around $2.000 from the September bidweek…

After one of the hottest months on record for some key natural gas regions, September baseload natural gas was trending mixed during the first two days of bidweek trading, which runs from Aug. 25-29. NGI’s Bidweek Alert showed the majority of U.S. locations falling month/month as temperatures are expected to ease seasonally in September. However,…

Chesapeake Energy Corp. executives said Wednesday they expect to announce more deals tied to the LNG market as the company aims to expose 15-20% of its natural gas production to international trade of the super-chilled fuel.  Earlier this year, Chesapeake clinched a tentative arrangement with global commodities trader Gunvor Group Ltd. to supply up to…

Baseload natural gas prices for August trended lower on the first day of bidweek trading, according to NGI’s Bidweek Alert. The modest price declines occurred against a backdrop of stubbornly high storage levels and lofty production levels, which have been offset only by strong summer heat in the West and Texas. Despite the modest weakness…

With intense summer heat in Texas and the South forecast to become more widespread beginning next month to drive up cooling demand, natural gas prices for July baseload delivery strengthened, according to NGI’s Bidweek Alert. Price increases were most significant on the West Coast, where triple-digit desert highs combined with an ongoing deficit in storage…