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August Natural Gas Futures Find Momentum Amid Expectations for Lower Storage Build

August Natural Gas Futures Find Momentum Amid Expectations for Lower Storage Build

Traders shrugged off early weather concerns Wednesday and nudged August natural gas futures higher as major polls showed expectations for a positive storage injection report that would reflect improved supply/demand balance. The August Nymex contract rose six-tenths of a cent day/day and settled at $1.681/MMBtu. September climbed four-tenths of a cent to $1.718.  NGI’s Spot…

July 22, 2020
Weekly Natural Gas Prices Stumble as Heat Outlook Eases

Weekly Natural Gas Prices Stumble as Heat Outlook Eases

Spot natural gas prices sputtered slightly over the course of the past week, as forecasts turned modestly cooler. NGI’s Weekly Spot Gas National Avg. lost 4.5 cents to $1.685 for the July 13-17 trading period. While the heat outlook eased to start the week, losses were minimal as the week wore on with forecasters continuing…

July 17, 2020
Natural Gas Forwards Hit ‘Neutral’ as Heat, Storage Fail to Inspire Rally

Natural Gas Forwards Hit ‘Neutral’ as Heat, Storage Fail to Inspire Rally

Coming off a sharp surge from the prior week, natural gas forwards sputtered a bit during the July 9-15 period as spiking coronavirus cases across the United States threatened continued economic and energy demand recovery, according to NGI’s Forward Look. Meanwhile, higher oil prices have incentivized producers to return to the oil patch, resulting in…

July 16, 2020
Covid-19 Mitigation Delayed Some Natural Gas Power Plant Construction, Says EIA

Covid-19 Mitigation Delayed Some Natural Gas Power Plant Construction, Says EIA

Data from the U.S. Energy Information Administration (EIA) for March and April showed that coronavirus mitigation efforts prompted more delays than average in the commercial operation dates of proposed electric generator projects, including natural gas combustion turbine and natural gas combined-cycle plants.  The EIA’s Preliminary Monthly Electric Generator Inventory found that 31 natural gas combustion…

July 16, 2020
Sweltering Heat Sparks Surge for Natural Gas Forward Prices

Sweltering Heat Sparks Surge for Natural Gas Forward Prices

Intensifying heat across the United States led a sharp rally for natural gas forward prices at a time when exports remain slow and uncertainty continues over energy demand recovery amid the coronavirus pandemic. Prices for August natural gas jumped 15.0 cents on average during the July 2-8 period, as did the balance of summer (August-October),…

July 9, 2020
Demand Slowdown Outpacing Natural Gas Production Decline, Keeping Lid on Prices, Says EIA

Demand Slowdown Outpacing Natural Gas Production Decline, Keeping Lid on Prices, Says EIA

Continuing economic sluggishness brought on by Covid-19 mitigation efforts is weighing down demand for natural gas, but there could be a price uptick on the horizon, according to the U.S. Energy Information Administration (EIA). Henry Hub spot prices are expected to average $2.46/MMBtu in 4Q2020, bringing the 2020 average to $1.93/MMBtu, EIA said in its…

July 7, 2020
U.S. Energy Demand Climbing, but New Covid Lockdowns Looming

U.S. Energy Demand Climbing, but New Covid Lockdowns Looming

The Energy Information Administration (EIA) on Wednesday said U.S. oil refinery input for the week ending June 26 averaged 14 million b/d, about 193,000 b/d higher than in the previous week, but the recent spike in Covid-19 cases nationwide may drive consumers back indoors, according to experts. U.S. refineries operated at 75.5% of their capacity…

July 1, 2020
Pandemic Pushing Electricity Use From Industrial, Commercial Sectors to Residential, Says EIA

Pandemic Pushing Electricity Use From Industrial, Commercial Sectors to Residential, Says EIA

Residential electricity sales in the United States surged to a record high in April, while cratering in the commercial and industrial sectors, a result of measures taken to reduce the spread of Covid-19, according to the Energy Information Administration (EIA). Total electricity sales in the United States declined 4% in April compared with the same…

July 1, 2020
Low U.S. LNG Export Capacity Utilization Seen Continuing Through August

Low U.S. LNG Export Capacity Utilization Seen Continuing Through August

After soaring to record levels in March, natural gas deliveries to U.S. export facilities plummeted by more than half only two months later as Covid-19 amplified demand destruction resulting from a mild winter, according to the Energy Information Administration (EIA). The EIA said feed gas deliveries to liquefied natural gas (LNG) production terminals fell to…

June 23, 2020
EIA’s 2021 Henry Hub Price Forecast Leaps to $3.08 on Rising Demand, Production Declines

EIA’s 2021 Henry Hub Price Forecast Leaps to $3.08 on Rising Demand, Production Declines

Demand for natural gas is expected to increase next winter and production is expected to decline, causing upward pressure on prices, resulting in Henry Hub spot prices averaging $3.08/MMBtu in 2021, according to the Energy Information Administration (EIA).

June 9, 2020
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