Natural gas bulls were on parade Thursday as the stars aligned to offer support for struggling futures prices. Thanks to lower production, a “quite strong” storage withdrawal, cooler-trending weather outlooks and solid export demand, the January Nymex futures contract settled 11.1 cents higher at $2.553. February jumped 11.4 cents to $2.570. Spot gas prices continued…
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LNG Recap: Covid-19 Lockdowns Weigh on Oil, Natural Gas Prices
A spike in Covid-19 cases and renewed lockdowns in Europe are pressuring global commodity prices as the week gets underway. European natural gas prices declined last week, halting the recent gains of the continent’s key benchmarks. Warmer weather combined with new lockdowns announced in France, Germany and the UK have pushed down prices. The prompt…
LNG 101: Exploring the Curious Case of Oil-Indexed LNG Contracts
The notion of linking natural gas to crude oil is a funny one for the uninitiated in North America, where an abundance of supplies and a robust wholesale market reign. However, nearly three-quarters of all the world’s liquefied natural gas (LNG) trade is tied to oil prices.
Texas Railroad Commission Tables Mandated Oil Quotas by E&Ps until Early May
Texas regulators tabled a decision Tuesday about whether to allow oil production quotas and instead are forming a task force to consider how to aid the state’s ailing energy industry.
Saudi May Hold Out Up To 2 Years in Price War, Fitch Analyst Says
With the Organization of the Petroleum Exporting Countries (OPEC)-plus alliance having failed to reach an agreement earlier this month to extend production cuts and boost prices, the Saudi-led cartel and former oil ally Russia are entrenched in a battle to see which one can hold out longer in an oversupplied global market, Fitch Solutions Inc. analysts said Thursday.
NGI The Weekly Gas Market Report
Global Oil Demand in First Quarter Forecast to Slump in Historic Decline on Coronavirus Impact
World oil demand in the first quarter is forecast to decline by the largest volume in history, exceeding the fall-off during the financial crisis that began in late 2008.
NGI The Weekly Gas Market Report
TPH Drops 2020 Natural Gas Price to $2.06/Mcf; Oil Cut as Coronavirus Roils Markets
With coronavirus fears roiling energy markets and the oil and gas industry entering 4Q2019 earnings season chanting the mantra of capital discipline, analysts at Tudor, Pickering, Holt & Co. (TPH) said Wednesday theyre lowering their 2020 price decks.
NGI The Weekly Gas Market Report
TPH Drops 2020 Natural Gas Price to $2.06/Mcf; Oil Cut as Coronavirus Roils Markets
With coronavirus fears roiling energy markets and the oil and gas industry entering 4Q2019 earnings season chanting the mantra of capital discipline, analysts at Tudor, Pickering, Holt & Co. (TPH) said Wednesday they’re lowering their 2020 price decks.
Fitch Reduces NBP Price Assumptions on Europe’s LNG Supply Glut, Slowing Global Growth
Fitch Ratings has revised lower natural gas price assumptions for 2019-2021 for the National Balancing Point (NBP) because of a liquefied natural gas (LNG) supply glut in Europe and slower global economic growth.