eia storage

Decline at Oklahoma’s Cushing Hub Leads Downward Slide in U.S. Oil Stocks, EIA Says

Decline at Oklahoma’s Cushing Hub Leads Downward Slide in U.S. Oil Stocks, EIA Says

U.S. stockpiles of crude are down substantially this year amid rising demand and curtailed production, with inventories at the Cushing Hub in Oklahoma driving the downward trend. Stocks at Cushing totaled 32.9 million bbl for the week ended Sept. 10, down 42% from the start of the year, the U.S. Energy Information Administration (EIA) said…

September 21, 2021
Delta Variant Pressuring Oil Demand, Possibly Hampering U.S. Natural Gas

Delta Variant Pressuring Oil Demand, Possibly Hampering U.S. Natural Gas

The Covid-19 Delta variant could dampen global oil demand and threaten U.S. natural gas activity if the rapid spread of the virus continues into the fall. In the United States, overall case totals and hospitalizations remain lower than the highs reached last winter before vaccine campaigns were widespread. However, reported infections are on the rise…

August 24, 2021
Natural Gas Futures Probe Higher Early as Temps Next Week Seen Trending Hotter

Natural Gas Futures Probe Higher Early as Temps Next Week Seen Trending Hotter

Forecasts advertising hotter-trending temperatures in the near term helped natural gas futures continue to probe higher in early trading Friday. The July Nymex contract was up 1.3 cents to $3.431/MMBtu at around 8:45 a.m. ET. The updated forecast as of early Friday showed hotter trends for the next week or so, according to Bespoke Weather…

June 25, 2021
Natural Gas Futures Continue Slide Early as Analysts Point to Technical Factors

Natural Gas Futures Continue Slide Early as Analysts Point to Technical Factors

Coming off a sharp decline in the previous session, natural gas futures retreated further in early trading Wednesday as analysts pointed to technical factors, more so than fundamentals, to explain recent price action. The July Nymex contract was off 4.6 cents to $3.194/MMBtu at around 8:50 a.m. ET. The July contract fell 11.2 cents the…

June 16, 2021
Natural Gas Futures Called Slightly Lower as Forecasters Monitoring Disturbance in GOM

Natural Gas Futures Called Slightly Lower as Forecasters Monitoring Disturbance in GOM

Coming off a strong run higher over the past few sessions, natural gas futures pulled back slightly in early trading Tuesday as updated weather models showed no significant changes to the temperature outlook. The July Nymex contract was off 1.5 cents to $3.337/MMBtu at around 8:45 a.m. ET. There were no major changes to the…

June 15, 2021
Natural Gas Futures Rally as Euro Model Posts Large CDD Increase

Natural Gas Futures Rally as Euro Model Posts Large CDD Increase

Rising cooling demand expectations in recent weather model runs had natural gas futures rebounding sharply in early trading Tuesday. The July Nymex contract was up 9.2 cents to $3.162/MMBtu at around 8:50 a.m. ET. After settling 2.7 cents lower at $3.070 in Monday’s session, the July contract “quickly rebounded” in after hours trading following a…

June 8, 2021
Forecasts ‘Abruptly’ Shift Cooler Over Weekend as Natural Gas Futures Extend Losses

Forecasts ‘Abruptly’ Shift Cooler Over Weekend as Natural Gas Futures Extend Losses

A sharp drop in cooling demand expectations from forecasts over the weekend had natural gas futures tumbling in early trading Monday. The June Nymex contract was down 6.8 cents to $2.838/MMBtu at around 8:50 a.m. ET. Weather models over the weekend “abruptly shifted much cooler” by lowering cooling demand expectations for the eastern half of…

May 24, 2021