Hurricane

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
Natural Gas Futures Slip as Laura Threatens to Crush Demand; Cash Softens

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
Storm-Related Production Decline Boosts Natural Gas Futures; Rally Seen ‘Getting Out of Hand’

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

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
Hurricane, Coronavirus and Demand Concerns Weigh Down September Natural Gas Futures

Hurricane, Coronavirus and Demand Concerns Weigh Down September Natural Gas Futures

Temperatures in many parts of the Lower 48 are expected to cool down in the coming week Hurricane Isaias could further weaken energy demand Continued spread of the coronavirus dampened sources of demand outside of weather   September natural gas futures on Friday declined for a second day in a row as summer heat was…

August 3, 2020
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