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Though still early for a full assessment of former Hurricane Ida, natural gas futures traders on Monday focused squarely on the destruction of natural gas demand brought about by the catastrophic Category 4 storm. The October Nymex gas futures contract, on its first day in the prompt position, settled at $4.305, off 8.3 cents from…

Associated natural gas production from U.S. onshore oil plays fell in 2020, marking the first year/year decline in output since 2016, the Energy Information Administration (EIA) said in a research note published Monday. Production of associated gas from the Permian and Anadarko basins, as well as from the Bakken, Eagle Ford and Niobrara shales, fell…

Big fluctuations continued along the Nymex natural gas futures curve early Monday as traders wrestled with hotter shifts in the latest weather models and a step up in production. The September contract, which rolls off the board later this week, settled at $3.945, up 9.4 cents on the day. October also picked up 9.4 cents…

Consumption of U.S. petroleum climbed last week, driven by demand for jet and distillate fuels, while production ticked up and inventories dropped, the U.S. Energy Information Administration (EIA) said Wednesday.  The boost in consumption extended a summer-long trend — a few weekly interruptions aside — despite mounting coronavirus cases that forced downward revisions to oil…

A technical bounce fueled by lower wind generation sent natural gas futures higher to start the week. The September Nymex gas futures contract settled Monday at $3.946, up 8.5 cents from Friday’s close. October climbed 8.5 cents to $3.960. Spot gas prices were mixed on Monday, with mostly mild weather across the country. However, big…

With robust demand from both Europe and Asia for U.S. supplies of liquefied natural gas (LNG) and strong levels of pipeline deliveries to Mexico, the Energy Information Administration (EIA) forecasted that U.S. gas exports would exceed imports by an average of 11.0 Bcf/d in 2021. That would mark a nearly 50% jump from the 2020…

The Eagle Ford Shale and Williston Basin led a surge in U.S. onshore drilling activity during the week ended Friday as the domestic rig count rose nine units to an even 500, according to the latest figures from Baker Hughes Co. (BKR). Ten oil-directed rigs were added in the United States for the week, offsetting…

Demand for U.S. petroleum eased last week after strong summer gains overall, while domestic production inched up but held far below pre-pandemic levels. Stockpiles of U.S. crude decreased slightly, however, as imports also declined, the U.S. Energy Information Administration (EIA) said Wednesday. Commercial oil inventories in the week ended Aug. 6 — excluding those in…

Click here to listen to the latest episode of NGI’s Hub & Flow podcast in which NGI Price & Markets Editor Leticia Gonzales is joined by the Energy Information Administration’s Stephen York, industry economist, to discuss the recent spike in natural gas prices. Tight supply/demand balances have lifted Henry Hub gas prices to around $4.00/MMBtu…