enery prices

Forecasts for modestly increasing heat and a lower inventory build report offset enduring uncertainty about liquefied natural gas (LNG) demand, helping natural gas futures post gains Wednesday and ending a drubbing that cost the July contract nearly 20 cents over the prior three trading sessions.

With much of the supply/demand background fairly stable, weak natural gas cash pricing drove a deep dive lower for forward markets during the June 11-17 period, NGI’s Forward Look data show. Double-digit decreases extended across North America through the rest of summer, though smaller losses were seen further out the curve.

FERC has issued a notice of inquiry (NOI) on its proposed index level used to calculate annual changes to interstate oil pipeline rate ceilings for the next five years, beginning July 1, 2021.

Mirage Energy Corp. has signed a $4 billion debt facility with the family office of Bluebell International to develop a natural gas project that would add cross-border capacity into Mexico, as well as the nation’s first underground gas storage facility.

Matador Resources Co. said Thursday it has brought five horizontal wells in the Permian Basin’s Delaware sub-basin into production, and it plans to bring 18 more wells and a natural gas processing plant online in the third quarter.

Natural gas futures traded in a narrow range of gains and losses Thursday and ultimately finished flat after traders absorbed a relatively bullish storage report that offset weather and demand uncertainty. The July Nymex contract settled at $1.638/MMBtu. August rose one-tenth of cent to $1.728.

Following a growing trend, the city council in San Luis Obispo along California’s central coast on Tuesday established a policy calling for all-electric new buildings that would take effect Sept. 1.

EQM Midstream Partners LP is now a subsidiary of Equitrans Midstream Corp. after the two companies completed a merger on Wednesday that was set into motion two years ago.

Boston-based Greentown Labs, a “climate tech” start-up incubator, plans to open its second location next spring in the U.S. oil and gas capital of Houston, as city leaders move to transition from fossil fuels.