Hurricane

Natural Gas Futures Extend Rally as Wintry Weather Nears; Spot Prices Surge

Natural Gas Futures Extend Rally as Wintry Weather Nears; Spot Prices Surge

Natural gas futures flew higher on Monday, bolstered by forecasts for substantially colder weather and stronger heating demand. The December Nymex contract gained 54.4 cents day/day to settle at $6.944/MMBtu, adding to a 42.5 cent rally in Friday’s session. January climbed 49.0 cents to $7.244. At A Glance: Forecasts add ‘hefty’ dose of demand Potential…

November 7, 2022
Natural Gas Forward Curves Retreat as Deadly Ian Rages Across Southeast

Natural Gas Forward Curves Retreat as Deadly Ian Rages Across Southeast

With natural gas production remaining stout – even amid temporary shut-ins ahead of Hurricane Ian – and cooler weather leaving its mark on storage inventories, natural gas forward prices continued to fall during the Sept. 22-28 week, according to NGI’s Forward Look. In the latter part of the period, all attention was on Florida, where…

September 30, 2022
Natural Gas Forward Prices Extend Losses as Ian Wipes Out Power to Millions

Natural Gas Forward Prices Extend Losses as Ian Wipes Out Power to Millions

With natural gas production remaining stout – even amid temporary shut-ins ahead of Hurricane Ian – and cooler weather leaving its mark on storage inventories, natural gas forward prices continued to fall during the Sept. 22-28 week, according to NGI’s Forward Look. In the latter part of the period, all attention was on Florida, where…

September 29, 2022
Natural Gas Forward Prices Plummet as Supply Growth Seen Improving Storage Outlook

Natural Gas Forward Prices Plummet as Supply Growth Seen Improving Storage Outlook

Dragged lower by an upward swing in production, moderating weather and an ongoing curtailment of feed gas deliveries to the Freeport LNG facility, natural gas forward prices crumbled during the trading period from Sept. 15 to Sept. 21. Steep declines of more than 70 cents extended from the October contract through the winter season (November-March),…

September 23, 2022
Post-Ida Oil, Natural Gas Production Still Offline; Power Restoration Called ‘Marathon, Not a Sprint’

Post-Ida Oil, Natural Gas Production Still Offline; Power Restoration Called ‘Marathon, Not a Sprint’

Assessing the damage in the wake of Hurricane Ida continued Tuesday, with the number of power outages and shut-in Gulf of Mexico (GOM) natural gas and oil production virtually unchanged. In fact, power outages for utility customers in the direct path of Ida may last three weeks or longer, Louisiana’s largest provider Entergy Corp. said.…

August 31, 2021
Crude Futures Climb in Wake of Ida’s Destruction; Production, Pipeline and Refining Uncertainty Persists

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
2020 Hurricane Season Blows Away All Previous Years on Record, Says NOAA

2020 Hurricane Season Blows Away All Previous Years on Record, Says NOAA

The Atlantic hurricane season, not yet over for 2020, has set a record with 30 named storms and 12 that made landfall in the continental United States, the National Oceanic and Atmospheric Administration (NOAA) said Tuesday. The previous record for the most storms was 28 in 2005. The season “ramped up quickly and broke records…

November 24, 2020
December Natural Gas Futures Rally for Second Consecutive Day as Cooler Forecasts Hold

December Natural Gas Futures Rally for Second Consecutive Day as Cooler Forecasts Hold

Slightly improved weather-driven demand and rising spot prices fueled a second-straight day of gains for natural gas futures. The December Nymex contract gained 8.2 cents day/day and settled at $3.031/MMBtu on Wednesday. January advanced 7.8 cents to $3.151. NGI’s Spot Gas National Avg. climbed 13.5 cents to $2.585, a third consecutive day of gains. Wednesday’s…

November 11, 2020
Natural Gas Futures Steady Early as Gulf Coast Braces for Zeta Landfall

Natural Gas Futures Steady Early as Gulf Coast Braces for Zeta Landfall

As the Gulf Coast braced for the imminent arrival of Hurricane Zeta, and as traders mulled a mixed temperature outlook, natural gas futures hovered close to even early Wednesday. The expiring November Nymex contract was up 1.1 cents to $3.030/MMBtu at around 8:40 a.m. ET; December was off 1.1 cents to $3.300. Zeta had reached…

October 28, 2020
Delta-led Supply Cuts Drive Sizable Rally for Natural Gas Futures Prices, but Demand Destruction Unclear

Delta-led Supply Cuts Drive Sizable Rally for Natural Gas Futures Prices, but Demand Destruction Unclear

Further cooler trends in the latest weather data and steep production cuts because of Hurricane Delta combined to send natural gas futures prices screaming higher Friday. After surging to a $2.821 intraday high, the November Nymex gas futures contract capped off the week at $2.741, up 11.4 cents from Thursday’s close. December climbed a more…

October 9, 2020
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