The devastation wrought by Hurricane Ida to the U.S. Gulf Coast and offshore became clearer on Wednesday, as oil and natural gas operations sputtered to restart. However, only a few customers in New Orleans on Wednesday were able to turn the lights on, as power outages remained widespread along the coast. Reports indicated it could…
Tag / hurricane ida
Subscribehurricane ida
Articles from hurricane ida
‘Big Picture’ Fuels Rebound for Natural Gas Futures Despite Near-Term Weakness
Natural gas traders flipped the script on futures pricing Tuesday, with the near-term prospects of another small storage injection stealing the limelight — at least temporarily — from former Hurricane Ida’s crushing toll on demand. The October Nymex contract plunged as much as 9.0 cents lower day/day, but it found support and rebounded sharply to…
August 31, 2021
Ida’s Demand Impacts Overshadowing Production Shut-Ins as Natural Gas Futures Slide
Amid expectations for potentially lasting demand impacts from former Hurricane Ida, natural gas futures fell in early trading Tuesday. The October Nymex contract was off 6.8 cents to $4.237/MMBtu at around 8:55 a.m. ET. As of early Tuesday Ida was moving over northern Mississippi as a tropical depression, carrying maximum sustained winds of 30 mph,…
August 31, 2021
Natural Gas Futures, Cash Prices Fall as Ida Slashes Demand; Storm Tees Up ‘Tame September’
Though still early for a full assessment of former Hurricane Ida, natural gas futures traders on Monday focused squarely on the destruction of natural gas demand brought about by the catastrophic Category 4 storm. The October Nymex gas futures contract, on its first day in the prompt position, settled at $4.305, off 8.3 cents from…
August 30, 2021
Crude Futures Climb in Wake of Ida’s Destruction; Production, Pipeline and Refining Uncertainty Persists
Oil and natural gas companies scrambled on Monday to determine the extent of damage to refineries, pipelines and offshore platforms in the immediate aftermath of the former Hurricane Ida, which made landfall in Louisiana packing winds near 150 mph. Ida battered Louisiana Sunday night as a Category 4 hurricane, delivering storm surges and flooding rains.…
August 30, 2021
‘Catastrophic’ Ida Creating Market Uncertainty as Natural Gas Futures Pull Back Early
Natural gas futures pulled back in early trading Monday as the market began to take stock of the damage caused by Hurricane Ida, which made landfall along the Louisiana coast over the weekend to devastating effect. As of 8:45 a.m. ET the October Nymex contract was down 10.4 cents to $4.284/MMBtu, but the prompt month…
August 30, 2021
‘Up, Up and Away!’ for Natural Gas Prices as Ida Seen Landing East of LNG Interests
Following through on the previous session’s prodigious rally and then some, natural gas futures soared early Friday as traders contemplated tight balances and a potential major Gulf Coast hurricane. The expiring September Nymex contract was up 18.0 cents to $4.364/MMBtu at around 8:45 a.m. ET. October was up 17.2 cents to $4.383. At 8 a.m.…
August 27, 2021
Listen to the latest episode of our newest podcast NGI's Hub and Flow via:
