Eia

The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 31 Bcf into natural gas storage for the week ending Nov. 13. The result exceeded the midpoint of analysts’ bearish estimates and punctuated market concerns about weak weather demand, keeping pressure on Nymex natural gas futures. “It was warmer than normal over the…

U.S. petroleum demand decreased last week, with gasoline and jet fuel demand both down from the prior week and well below 2019 levels. In its latest Weekly Petroleum Status Report, EIA said Wednesday that overall petroleum demand fell 3% week/week and was 8% below levels for the comparable week a year earlier. On a year/year…

The U.S. Energy Information Administration (EIA) on Friday reported an injection of 8 Bcf into storage for the week ending Nov. 6. The result was shy of expectations, but it did not subdue markets that had anticipated the second natural gas withdrawal of the season. EIA reported a pull of 36 Bcf from gas stockpiles…

Natural gas spot prices at Henry Hub are poised to ascend to an average $3.42/MMBtu in January on a combination of space heating demand, rising liquefied natural gas (LNG) exports and lower production, according to updated projections from the Energy Information Administration (EIA). In its latest Short-Term Energy Outlook (STEO), published Tuesday, EIA said it…

U.S. demand for fuels derived from crude oil declined last week as cases of the coronavirus mounted and travel decreased, the Energy Information Administration (EIA) said Wednesday. Overall demand fell 6% week/week and was 13% below year-earlier levels, EIA said in its Weekly Petroleum Status Report for the week ended Oct. 30. Driving the year/year…

The Energy Information Administration (EIA) reported a 49 Bcf injection into natural gas storage inventories for the week ending Oct. 16, confirming an increasingly tight supply/demand natural gas balance. Still, Nymex futures prices barely flinched after the EIA data came in slightly lower than consensus. Ahead of the report, NGI’s model projected 52 Bcf build,…

The Energy Information Administration (EIA) reported a surprising low-side 46 Bcf injection into natural gas storage inventories for the week ending Oct. 9. The EIA figure was around 10 Bcf below consensus, and Nymex futures, which surged early Thursday, climbed another couple of notches. The November contract was trading at $2.792/MMBtu in the minutes leading…

The number of uncompleted oil and natural gas wells is slowly declining across the Lower 48’s major basins, but the current backlog should be enough to turn to sales until drilling increases, according to federal data. The Energy Information Administration (EIA) in its monthly Drilling Productivity Report (DPR) on Tuesday analyzed production trends into November.…

Productivity per rig is climbing in the seven major natural gas and producing basins of the Lower 48, but overall output is forecast to decline month/month across the board in November, according to the Energy Information Administration (EIA). The Drilling Productivity Report (DPR) issued on Tuesday by EIA projects that total natural gas output from…