Hurricane

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.…

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.…

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…

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…

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…

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…

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…

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.…

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…