Forecast

AGA Outlook Calls for Chilly Winter, but Strong Natural Gas Production to Help Balance Market

AGA Outlook Calls for Chilly Winter, but Strong Natural Gas Production to Help Balance Market

Heating demand could prove stronger this winter than last, given National Weather Service (NWS) forecasts for colder temperatures in northern markets. But robust production levels this fall should help the market meet demand and could help keep consumer prices from rising more than they already did this year. That assessment is according to the American…

October 17, 2022
U.S. Natural Gas Storage Injections Below Average Amid ‘Chillier-than-Normal’ Winter Forecast

U.S. Natural Gas Storage Injections Below Average Amid ‘Chillier-than-Normal’ Winter Forecast

Early 2023 could lead to more natural gas use than normal, with heavy snow predicted for two big oil and natural gas states, Oklahoma and Texas, according to the Farmers’ Almanac’s 2022-2023 Extended Winter Weather Forecast.  In the recently published edition, the 200-plus-year-old periodical said it expects snow and an “active storm track” to run…

August 18, 2022
Do U.S. E&Ps Need Higher Natural Gas Prices to Offset Demand and Inflation? Yes, Says Moody’s

Do U.S. E&Ps Need Higher Natural Gas Prices to Offset Demand and Inflation? Yes, Says Moody’s

Natural gas development costs in the United States are rising, stung by rising consumption, inflation, supply chain issues and labor shortages, all of which are eating away at the margin, according to Moody’s Investors Service. The credit ratings agency recently hiked its medium-term Henry Hub natural gas price range by 50 cents to $2.50-$3.50/Mcf. The…

April 22, 2022
IEA Expects Global Natural Gas Demand to Drop on Ukraine War Market Disruptions

IEA Expects Global Natural Gas Demand to Drop on Ukraine War Market Disruptions

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…

April 18, 2022
Upcoming Chill Sends November Natural Gas Up to $6.20 at Expiration; Cash Rallies Too

Upcoming Chill Sends November Natural Gas Up to $6.20 at Expiration; Cash Rallies Too

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…

October 27, 2021
Bullish Speculators Nudge Out Another Gain for Natural Gas Futures; Cash Rallies Too

Bullish Speculators Nudge Out Another Gain for Natural Gas Futures; Cash Rallies Too

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…

October 20, 2021
October Natural Gas Futures Tread Water Ahead of EIA Storage Report

October Natural Gas Futures Tread Water Ahead of EIA Storage Report

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…

September 22, 2021
Golden Pass LNG Said ‘on Schedule’ for 2024 Start-Up

Golden Pass LNG Said ‘on Schedule’ for 2024 Start-Up

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…

September 9, 2021
Natural Gas Forward Prices Explode as Ida Adds to ‘Precarious’ Storage Outlook

Natural Gas Forward Prices Explode as Ida Adds to ‘Precarious’ Storage Outlook

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…

September 3, 2021
Structural Tightness Maintaining Support for Most U.S. Natural Gas Forward Curves, but Northeast Prices Tumble

Structural Tightness Maintaining Support for Most U.S. Natural Gas Forward Curves, but Northeast Prices Tumble

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…

July 30, 2021
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