Forecast

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
EIA Forecasts Dramatic Increase in 2021 Henry Hub Prices

EIA Forecasts Dramatic Increase in 2021 Henry Hub Prices

Henry Hub natural gas spot prices are set to average $2.73/MMBtu during the second quarter of 2021 and should average $3.04 for the year, a dramatic increase over 2020 prices, according to updated projections from the U.S. Energy Information Administration (EIA). Spot prices at the national benchmark averaged $2.62 in March, EIA said in the…

April 8, 2021
Brent to Average $65 in 2Q, Retreat to $61 in Second Half of 2021, EIA Says

Brent to Average $65 in 2Q, Retreat to $61 in Second Half of 2021, EIA Says

After rising $3/bbl in March on demand optimism, Brent crude oil prices are set to average $65.00 in the second quarter of 2021, according to updated projections from the U.S. Energy Information Administration (EIA). Brent rose to $65.00 in March amid expectations for oil demand to grow on higher Covid-19 vaccination rates and increased global…

April 7, 2021
U.S. Natural Gas Prices Seen Flirting with $3 in February on LNG Strength, Storage Drawdown

U.S. Natural Gas Prices Seen Flirting with $3 in February on LNG Strength, Storage Drawdown

Average natural gas spot prices at Henry Hub are expected to rise to $2.98/MMBtu this month, a 27-cent increase over January prices and sharply higher than the $2.59 December average, the U.S. Energy Information Administration (EIA) said Tuesday. The forecast would mean a corresponding increase in Mexico natural gas prices, which are closely correlated to…

February 10, 2021
Woodside, Santos Report Jump in 2020 LNG Sales Despite Pandemic

Woodside, Santos Report Jump in 2020 LNG Sales Despite Pandemic

Two of Asia’s leading liquefied natural gas (LNG) suppliers said sales jumped significantly last year despite a pandemic that curbed global energy consumption.  Woodside Petroleum Ltd., Australia’s largest natural gas producer, said its annual LNG sales increased in 2020 year/year to 81.2 million boe from 75.3 million boe. Santos Ltd., the country’s largest domestic gas…

January 25, 2021
February Natural Gas Futures Stumble as Weather Worries Persist

February Natural Gas Futures Stumble as Weather Worries Persist

Futures faltered for a fourth-consecutive day Weather outlooks shifted increasingly bearish LNG feed gas volumes were subdued Natural gas futures faltered for a fourth-consecutive day to end the week, with weakened weather demand expectations and lower U.S. export levels overshadowing a government inventory report that showed the steepest withdrawal of the season. The February Nymex…

January 25, 2021
Raymond James Says Natural Gas to Jump in 2021, Boosted by Production Cuts

Raymond James Says Natural Gas to Jump in 2021, Boosted by Production Cuts

The extensive oil production declines amid the coronavirus pandemic’s fallout cut deep enough into associated gas supplies to likely help drive up Henry Hub natural gas prices in 2021, according to Raymond James & Associates. “The 2020 oil crash is still likely to drive a massive imbalance in U.S. gas supplies in 2021,” Raymond James…

October 15, 2020