The U.S. Energy Information Administration (EIA) reported an injection of 26 Bcf into storage for the week ending July 24, a print that came in slightly above the average of major polls and pushed Nymex natural gas futures lower. The result implies that demand, lifted by summer heat and strong energy use for cooling, is…
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Permian Natural Gas Output Seen Rebounding Sharply, with Pipe Constraints Likely from 2023 Onward
Natural gas production from the Permian Basin is expected to return to record levels by late 2021 and reach 16 Bcf/d by the end of 2023, although delayed pipeline approvals could limit takeaway capacity beginning in 2023, according to new analysis by Rystad Energy. The 16 Bcf/d figure, which assumes a $45-50/bbl West Texas Intermediate…
August Natural Gas Futures Dive Lower on Cooler Outlook
Natural gas futures lost momentum as national forecasts shifted cooler Storm activity in the Gulf of Mexico also ushered in milder temperatures through parts of the central United States Cash prices moved higher, led by surges in California August natural gas futures lost momentum on Monday, as storm activity in the Gulf of Mexico (GOM)…
Storm, Cooler Forecasts Chill August Natural Gas Futures
August natural gas futures lost momentum on Monday, as storm activity in the Gulf of Mexico (GOM) ushered in milder temperatures through parts of the central United States and national forecasts shifted cooler. The August Nymex contract fell 7.4 cents day/day and settled at $1.734/MMBtu. September declined 8.1 cents to $1.786. NGI’s Spot Gas National…
Signs of LNG Recovery, Cooling Demand Lengthen Positive Run for August Natural Gas Futures
Pricing momentum gathered after signs of an improving liquefied natural gas export environment Storage capacity concerns eased and robust power burns pointed to continued strong summer demand Spot prices advanced, led by gains in the Northeast region August natural gas futures on Friday continued a rally ignited a day earlier as storage capacity concerns eased…
Light Storage Injection Fuels Surge in August Natural Gas Futures
A modest storage injection eased containment concerns and overshadowed worries imposed by the coronavirus pandemic The EIA reported an injection of 37 Bcf that served as evidence that robust summer heat is driving strong cooling demand Spot prices advanced alongside continued lofty temperatures August natural gas futures advanced on Thursday as a modest storage injection…
Storage Report Points to Tightening Balance, Igniting August Natural Gas Futures Rally
August natural gas futures advanced on Thursday as a modest storage injection eased containment concerns and overshadowed worries imposed by the ongoing coronavirus pandemic. The August Nymex contract climbed 10.4 cents day/day and settled at $1.796/MMBtu. September rose 11.7 cents to $1.843. NGI’s Spot Gas National Avg. was up 1.0 cent to $1.610. The Energy…
IEnova’s ECA LNG Project Still Awaiting Mexico Export Permit
The Energía Costa Azul (ECA) natural gas export project in Mexico’s Baja California is still waiting on an export approval, Infraestructura Energética Nova (IEnova) executives said Thursday. During a second quarter earnings call, the commitment to the project was reiterated, but there was no fixed date set for when the company expected the export permit…
Calls for Bullish Storage Report Prop Up August Natural Gas Futures
U.S. EIA reports an injection of 37 Bcf into storage for the week ending July 17, marking the fourth consecutive week of double-digit builds Mounting coronavirus cases continue to weigh on domestic industrial gas demand and U.S. exports Traders shrugged off early weather concerns Wednesday and nudged August natural gas futures higher as major polls…
Light Storage Injection Drives August Natural Gas Futures Higher
The U.S. Energy Information Administration (EIA) reported an injection of 37 Bcf into storage for the week ending July 17, marking the fourth consecutive week of double-digit builds and pushing Nymex natural gas futures higher. Ahead of the report, the August contract was up seven-tenths of a cent at $1.688/MMBtu. The prompt month declined slightly…