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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
Lower Crude Prices Forecast to Reduce Global Reserves Growth, Increase Impairments

Lower Crude Prices Forecast to Reduce Global Reserves Growth, Increase Impairments

Oil and natural gas exploration and development (E&D) is predicted to decline in line with lower crude prices, which in turn would ding the value of proved reserves, the Energy Information Administration (EIA) said Thursday.

June 4, 2020
Despite Mid-Year Bump, EIA Expects 2020 Natural Gas Prices to Average Just $2.11

Despite Mid-Year Bump, EIA Expects 2020 Natural Gas Prices to Average Just $2.11

An expected decline in domestic natural gas production and increased power sector demand will push prices to an average $2.22/MMBtu in 3Q2020, but Henry Hub spot prices will average just $2.11 for the full year, according to the Energy Information Administration (EIA).

March 11, 2020
Bullish EIA Storage Figure Sparks Rally for Natural Gas Futures

Bullish EIA Storage Figure Sparks Rally for Natural Gas Futures

The U.S. Energy Information Administration (EIA) once again surprised to the bullish side, reporting a larger-than-expected 151 Bcf withdrawal from natural gas storage inventories for the week ending Feb. 14 and providing Nymex futures a bump late Thursday morning.

February 20, 2020
Rare Natural Gas Production Decrease From Key U.S. Unconventional Plays in March, Says EIA

Rare Natural Gas Production Decrease From Key U.S. Unconventional Plays in March, Says EIA

For the first time in three years, the Energy Information Administration (EIA) is predicting a month-to-month decline in total natural gas production from seven of the most prolific onshore U.S. unconventional plays in March, and oil production is expected to remain virtually flat.

February 19, 2020