Forecast

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
No More Oil, Natural Gas Fields Needed on Road to Net Zero, IEA says

No More Oil, Natural Gas Fields Needed on Road to Net Zero, IEA says

No more investments in new oil and gas fields should be sanctioned if the world is to have a shot at achieving net zero greenhouse gas (GHG) emissions by 2050, the International Energy Agency (IEA) said Tuesday. The world’s oil and gas needs in a net zero world can be met by projects greenlit as…

May 18, 2021
Brent Forecast to Slide to $61 Later in Year, but Henry Hub Prices Higher, Says EIA

Brent Forecast to Slide to $61 Later in Year, but Henry Hub Prices Higher, Says EIA

Brent crude oil prices are set to average $65/bbl during the second quarter before declining to $61 for the second half of 2021, the Energy Information Administration (EIA) said in the May edition of its Short-Term Energy Outlook (STEO). In the report, published Tuesday, EIA said Brent prices averaged $65 in April, unchanged from March.…

May 12, 2021