Demand

Domestic Petroleum Demand Declines as Travel Wanes Amid Coronavirus Outbreaks, EIA Says

Domestic Petroleum Demand Declines as Travel Wanes Amid Coronavirus Outbreaks, EIA Says

U.S. petroleum use decreased for a third-consecutive week, with gasoline and jet fuel demand both declining during a period that, in typical years, is marked by heavy travel around the Thanksgiving holiday. In its latest Weekly Petroleum Status Report covering the period ended Nov. 27, the Energy Information Administration (EIA) said Wednesday that overall petroleum…

December 2, 2020
LNG Recap: Cold Weather Extends Global Natural Gas Price Gains

LNG Recap: Cold Weather Extends Global Natural Gas Price Gains

Global natural gas prices on Monday extended gains made last week as colder weather has settled in key markets across the world, driving demand for liquefied natural gas (LNG) exports.  Henry Hub for January delivery continued to climb Monday on colder temperatures forecast for parts of the southern and eastern United States. U.S. natural gas…

November 30, 2020
Global Oil, Gas Demand Seen Peaking Sooner, Lower Because of Covid-19

Global Oil, Gas Demand Seen Peaking Sooner, Lower Because of Covid-19

Concerns about peak oil demand and stranded assets may curtail the energy industry’s appetite for sanctioning projects with long lead times, according to Raymond James & Associates Inc. The analyst team led by Pavel Molchanov in a note to clients on Monday said forecasting the peak of global oil demand is unsure “but suffice it…

November 30, 2020
December Natural Gas Futures Fly Higher Following Storage Withdrawal; Spot Prices Falter

December Natural Gas Futures Fly Higher Following Storage Withdrawal; Spot Prices Falter

Natural gas futures rallied a third consecutive day in the short holiday week, as markets digested a storage decrease and hints of stronger demand before the December contract rolled off the board as the prompt month at the close of trading Wednesday. The December Nymex contract jumped 12.1 cents day/day to settle at $2.896/MMBtu. January…

November 25, 2020
EIA Records Uptick in Jet Fuel Demand Ahead of Holiday, but Overall Petroleum Demand Falls

EIA Records Uptick in Jet Fuel Demand Ahead of Holiday, but Overall Petroleum Demand Falls

Petroleum demand in the United States declined around 2% last week as motor gasoline use fell, while demand for jet fuel saw an uptick for the period leading up to the Thanksgiving holiday, according to the latest data from the Energy Information Administration (EIA). In its updated Weekly Petroleum Status Report, EIA recorded roughly 19.2…

November 25, 2020
December Natural Gas Futures Advance Amid Steady LNG Demand, Strength in Spot Prices

December Natural Gas Futures Advance Amid Steady LNG Demand, Strength in Spot Prices

Natural gas futures climbed higher Monday as export levels held strong, prospects for weather-driven demand improved slightly and continued positive news on the coronavirus vaccine front bolstered confidence across markets. The December Nymex contract gained 6.1 cents day/day to start the abbreviated trading week and settled at $2.711/MMBtu. January rose 5.3 cents to $2.823. NGI’s…

November 23, 2020
Petroleum Demand Declines Along with Coronavirus Spikes, EIA Says

Petroleum Demand Declines Along with Coronavirus Spikes, EIA Says

U.S. petroleum demand decreased last week, with gasoline and jet fuel demand both down from the prior week and well below 2019 levels. In its latest Weekly Petroleum Status Report, EIA said Wednesday that overall petroleum demand fell 3% week/week and was 8% below levels for the comparable week a year earlier. On a year/year…

November 18, 2020
Equinor Forecasts Natural Gas Demand to Climb as Prices Fall, but Investment Cycle Uncertain

Equinor Forecasts Natural Gas Demand to Climb as Prices Fall, but Investment Cycle Uncertain

Low natural gas prices should boost demand growth in the medium term, and the export market could tighten in the mid 2020s, but there remains uncertainty in the forecast in part because of Covid-19, according to Equinor ASA’s 10th Energy Perspectives report. The Norwegian-based super major’s annual energy outlook, covering fossil fuels, alternative energy and…

November 18, 2020
Oil Demand, Production Fall Under Pandemic’s Weight in Final Week of October, EIA Says

Oil Demand, Production Fall Under Pandemic’s Weight in Final Week of October, EIA Says

U.S. demand for fuels derived from crude oil declined last week as cases of the coronavirus mounted and travel decreased, the Energy Information Administration (EIA) said Wednesday. Overall demand fell 6% week/week and was 13% below year-earlier levels, EIA said in its Weekly Petroleum Status Report for the week ended Oct. 30. Driving the year/year…

November 4, 2020
Covid-19 to Mean More Residential Heating Demand This Winter, EIA Says

Covid-19 to Mean More Residential Heating Demand This Winter, EIA Says

Changes in behavior due to the Covid-19 pandemic, along with colder temperatures, will result in greater residential natural gas consumption during the 2020/21 winter, according to a forecast from the Energy Information Administration (EIA). The EIA’s most recent projections show residential natural gas consumption averaging 21.1 Bcf/d from October 2020 through March 2021, a 5%…

November 2, 2020
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