eia storage

Jet Fuel Supplies Fall to Lowest Level Since 2014 Before Bouncing Back, EIA Says

Jet Fuel Supplies Fall to Lowest Level Since 2014 Before Bouncing Back, EIA Says

U.S. inventories of jet fuel reached a seven-year low last month as mounting demand intersected with lower production, federal researchers said in a report Monday. Jet fuel supplies had increased over the summer months as refineries ramped up output to meet rebounding demand for gasoline and distillate fuels. Refiners processed more crude to meet that…

December 14, 2021
Natural Gas Futures Eke Out Modest Increase as Cold Blast Rocks New England Cash

Natural Gas Futures Eke Out Modest Increase as Cold Blast Rocks New England Cash

Natural gas futures managed a rebound from the prior day’s massive sell-off, even as the persistently warm December outlook trimmed gains from early in the session. After touching a $3.829/MMBtu intraday high, the January Nymex gas futures contract settled Tuesday at $3.708, up 5.1 cents on the day. February climbed 4.9 cents to $3.674. Spot…

December 7, 2021
Biden Orders Release of Oil Reserves in Concert With Other Countries to Curb Price Inflation

Biden Orders Release of Oil Reserves in Concert With Other Countries to Curb Price Inflation

With gasoline prices recently hovering near multi-year highs and crude production lagging demand in 2021, President Biden on Tuesday said his administration would tap the Strategic Petroleum Reserve (SPR) as part of a broader international move to boost supply and curb costs at the pump. The United States is coordinating the release along with similar…

November 23, 2021
‘Bearish Tilt’ to Weather Extends Natural Gas Futures Losses Ahead of Early EIA Report

‘Bearish Tilt’ to Weather Extends Natural Gas Futures Losses Ahead of Early EIA Report

With forecasts hinting at a turn toward milder conditions for the Lower 48 in late November, natural gas futures continued to erode in early trading Wednesday. The December Nymex contract was down 19.4 cents to $4.785/MMBtu at around 8:50 a.m. ET. Recent model runs as of early Wednesday advertised warmer trends and lower overall weather-driven…

November 10, 2021
December Natural Gas Futures Flounder Amid Demand Uncertainty, Rising Output

December Natural Gas Futures Flounder Amid Demand Uncertainty, Rising Output

Natural gas futures teetered between gains and losses much of Monday as traders contrasted rising production and mild fall weather forecasts against strong demand for U.S. exports of liquefied natural gas (LNG). The December Nymex contract, however, ultimately settled at $5.427/MMBtu, down 8.9 cents day/day amid domestic demand weakness. January fell 12.1 cents to $5.505.…

November 8, 2021
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