Forecast

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
Natural Gas Proved Resilient in Face of Covid-19, ‘Mother of All Stress Tests,’ Says BP’s Chief Economist

Natural Gas Proved Resilient in Face of Covid-19, ‘Mother of All Stress Tests,’ Says BP’s Chief Economist

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…

July 8, 2021
EIA Predicts $72 Brent for 2H2021, Tacks on 14 Cents to Henry Hub Forecast

EIA Predicts $72 Brent for 2H2021, Tacks on 14 Cents to Henry Hub Forecast

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…

July 8, 2021
August Natural Gas Futures Slump for Second Straight Day; Cash Prices Fall

August Natural Gas Futures Slump for Second Straight Day; Cash Prices Fall

Natural gas futures on Wednesday dropped lower, following a decline the previous day, as traders mulled weather-driven demand, stagnated liquefied natural gas (LNG) levels, and the potential storage injection with the federal government’s pending report Thursday morning.   The August Nymex contract fell 4.1 cents day/day and settled at $3.596/MMBtu. September shed 3.4 cents to $3.574.…

July 7, 2021
Covid-19 Uncertainty Still Weighing on Oil Prices, Says World Bank

Covid-19 Uncertainty Still Weighing on Oil Prices, Says World Bank

Continued uncertainty around the Covid-19 pandemic has kept a lid on rallying oil prices, according to the World Bank. Though prices have been supported by continued production restraint by the Organization of the Petroleum Exporting Countries and their allies, aka OPEC-plus,“the pickup in oil prices has been partly dampened by uncertainty regarding the evolution of…

June 10, 2021
Hot Forecast Lifts Natural Gas Futures Another Notch Ahead of Expected Triple-Digit Storage Build

Hot Forecast Lifts Natural Gas Futures Another Notch Ahead of Expected Triple-Digit Storage Build

Natural gas futures edged up early Wednesday as traders mulled an increasingly hot June forecast against a projected hefty storage build. Though briefly moving into the red, the July Nymex gas futures contract settled Wednesday at $3.129, up a mere one-tenth of a cent on the day. August climbed four-tenths of a cent to $3.144.…

June 9, 2021
Many LNG Export Projects ‘Not Needed’ in IEA Net-Zero Model

Many LNG Export Projects ‘Not Needed’ in IEA Net-Zero Model

Many of the liquefied natural gas (LNG) export facilities already under construction or in planning will not be needed in the future if the world is to reach net zero greenhouse gas emissions by 2050, the International Energy Agency said in a bombshell report this week. The world’s oil and gas needs in a net…

May 21, 2021
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