Forecast

Global natural gas demand is likely to decline this year due to high prices and market disruptions caused by Russia’s invasion of Ukraine, according to the International Energy Agency (IEA).  The IEA revised this year’s forecast for natural gas consumption growth in its latest quarterly report to slightly below zero from its previous estimate in…

That roar heard throughout the U.S. gas market on Thursday was that of natural gas futures, which went out like a lion Wednesday as yet another shift in the latest weather data led to continued volatility. The prompt month rolled off the board at $6.202, up 32.0 cents on the day. The December contract, which…

After trading sideways for the better part of Wednesday’s session, natural gas futures surged in the last half hour as the tight global supply backdrop provided bulls the justification for another rally. The November Nymex gas futures contract settled at $5.170/MMBtu, up 8.2 cents on the day. December edged up 9.7 cents to $5.447. Spot…

Natural gas futures on Wednesday snapped a four-day losing streak, though barely, after trading in a narrow range most of the session. Rebounding liquified natural gas (LNG) export volumes offset domestic demand forecasts that held in bearish territory. At A Glance: Futures snap four-day slide Analysts expect storage build in 70s-80s Bcf Weather forecasts remain…

Construction on the Golden Pass liquefied natural gas (LNG) export project in Texas is progressing, with the facility on track to come online in 2024, according to ExxonMobil. ExxonMobil Qatar President Dominic Genetti said recently there are currently about 4,000 people at the worksite for the three-train, 16 million metric tons/year (mmty) facility. “I think…

Though long gone from the Gulf Coast, Hurricane Ida’s devastation continued across the eastern United States ahead of the Labor Day weekend, wiping out significant production and causing widespread power outages along the way. Supply’s slow expected recovery fueled bullish momentum across natural gas forward curves for the trading period ending Sept. 1, resulting in…

Natural gas forward market trading was choppy at the front of the curve for the trading period ending July 28. Heat was forecast to ease in the near term, dragging down summer prices by more than 20 cents in the Northeast, according to NGI’s Forward Look. Other markets continued to see small gains through the…

Covid-19 upended the energy markets last year, with natural gas proving to be resilient while renewables continued to surge, according to BP plc. The 70th edition of BP’s Statistical Review of World Energy 2021 issued on Thursday revealed a global energy market that transformed in 2020 unlike any year in history. Primary energy and carbon…

Brent crude prices gained $5/bbl from May to June and are on track to average $72 during the second half of 2021 (2H2021), the Energy Information Administration (EIA) said in an updated forecast published Wednesday. Brent prices rose to $73 in June, up $5 month/month and up $33 from year-ago prices, EIA said. Rising production…