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…
Eia
Articles from 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…
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),…
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…
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…
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…
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…
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).
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.
NGI The Weekly Gas Market Report
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).