Amid a number of “variables in play” in the natural gas market early Wednesday, most notably the imminent threat of Hurricane Laura bearing down on Texas and Louisiana, prices strengthened in early trading. The September Nymex contract climbed 4.5 cents to $2.534/MMBtu at around 8:40 a.m. ET. As of 8 a.m. ET Laura was 280…
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Natural Gas Futures Slip as Laura Threatens to Crush Demand; Cash Softens
Natural gas traders were on high alert Tuesday as Hurricane Laura churned toward the Gulf Coast, with impacts to supply and demand reverberating across the market ahead of the storm’s projected landfall late Wednesday or early Thursday. Volatility was on full display, with the September Nymex gas futures plunging to an early $2.451 intraday low…
August 25, 2020
Hurricane Laura Taking Aim at Oil, Natural Gas Infrastructure on Upper Texas, Louisiana Coasts
Oil and gas operators, midstreamers, petrochemical companies and export facilities along the Gulf Coast had begun evacuating personnel and curbing operations as Hurricane Laura took aim at southwest Louisiana/east Texas. Altogether, about 400,000 people in Texas had been ordered to evacuate Tuesday, with more than 325,000 people in Louisiana also ordered to move inland. The…
August 25, 2020
Natural Gas Futures Strengthen as Storms Prompt Production Shut-Ins; Cash Rallies Too
Nymex natural gas futures rally again as pair of Gulf storms disrupt production Demand destruction expected; LNG facilities prepare Cash prices rise as warmer weather moves east Natural gas futures jumped as much as 10 cents to start the week, supported by a steep drop in production ahead of two tropical systems moving through the…
August 25, 2020
‘Large Price Swings’ Possible for September Natural Gas as Hurricane Laura Looms
Natural gas futures hovered close to even early Tuesday as traders monitored the strengthening Hurricane Laura, which was threatening both supply and demand as it churned toward the Gulf Coast. The September Nymex contract was up 1.9 cents to $2.532/MMBtu at around 8:45 a.m. ET. At 8:15 a.m. ET Tuesday, the National Hurricane Center reported…
August 25, 2020
Storm-Related Production Decline Boosts Natural Gas Futures; Rally Seen ‘Getting Out of Hand’
Natural gas futures jumped as much as 10 cents to start the week, supported by a steep drop in production ahead of two tropical systems moving through the Gulf of Mexico (GOM). The September Nymex gas futures contract surged to a $2.554 intraday high before settling Monday at $2.513, up 6.5 cents from Friday’s close.…
August 24, 2020
Natural Gas Futures Rally Early as 1.2 Bcf/d of GOM Shut-Ins Reported
Two tropical cyclones threatened the Gulf of Mexico (GOM) Monday, prompting offshore production shut-ins and lifting natural gas futures in early trading. The September Nymex contract was up 4.4 cents to $2.492/MMBtu at around 8:45 a.m. ET. Tropical Storm Marco has weakened, but Tropical Storm Laura is now on course for the Texas and Louisiana…
August 24, 2020
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