Natural gas futures tumbled Friday as markets absorbed forecasts for cooler weather, concerns about bloated inventories and declining liquefied natural gas (LNG) volumes. The July Nymex contract settled at $1.731/MMBtu, down 8.2 cents day/day. August fell 8.5 cents to $1.815.
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Weekly Natural Gas Prices Rocky Amid LNG Worries, Elevated Inventories
Cooler near-term weather patterns in key regions and a storage injection that showed still-robust surpluses weighed on weekly spot gas prices for the June 8-12 period. NGI’s Weekly Spot Gas National Avg. declined 4.0 cents to $1.570.
Natural Gas-Rich Appalachia, Haynesville May Fill Shortfall from Permian Associated Output, Says IEA
Protracted low West Texas Intermediate (WTI) oil prices may lead exploration and production operators to look beyond the Permian Basin to make up for a shortfall in associated gas to service domestic demand and export needs, giving other Lower 48 areas a needed boost, the International Energy Agency (IEA) said Wednesday.
Covid-19 Claims Another Lower 48 Operator as Vista Proppants Seeks Chapter 11
Fracture sand provider Vista Proppants & Logistics LLC has filed for bankruptcy protection, citing financial pressures related to the coronavirus pandemic.
NGI The Weekly Gas Market Report
Mexico’s Cenagas Focuses on Southeast, Industrials in New Consulta Pública
Mexico’s Centro Nacional de Control del Gas Natural (Cenagas) has launched the Consulta Pública 2020 with a specific focus this year on the natural gas needs of the south and southeastern parts of the country and industrial users.
E&P Capex Slumps to ’05 Levels, with ‘Modest’ Uplift Seen if WTI Prices Improve
Capital spending by global oil and natural gas explorers has collapsed to levels not seen in 15 years and could decline on average by 27% in 2020, a 3,000 basis point turnaround from the 2% increase predicted in December, according to a new survey.
Xebec Cites Growing Interest in RNG with Agreements for Quebec Plant
An encouraging start is underway to add a private enterprise dimension to municipal government production of renewable natural gas (RNG) from urban and agricultural waste landfill sites, according to a French Canadian pioneer of the budding business field.
July Natural Gas Futures Essentially Flat After Muted Reaction to In Line Storage Injection
The U.S. Energy Information Administration (EIA) reported an injection of 93 Bcf into natural gas storage for the week ending June 5, a print on par with expectations but that failed to impress. Nymex natural gas futures hovered in positive territory early Thursday but gave up early gains after the report.
New York ISO Outlines Enhancements Needed Amid Call for Fossil Fuel Phase-Out
The New York Independent System Operator (NYISO) has outlined a series of market design and system planning enhancements designed to integrate renewable resources into its system.