Markets

With global benchmark oil prices already hovering around $80/bbl on strong demand early in the year — despite a surge in coronavirus cases — analysts said consumption could reach record levels this year and potentially drive the cost of crude into the triple digits.

Mexico’s CFEinternacional (CFEi) reported a 13% year/year increase in marketed natural gas volumes during the third quarter, according to the latest NGI Top North American Natural Gas Marketers ranking. CFEi, the international fuel marketing arm of state power utility Comisión Federal de Electricidad (CFE), transacted 3.77 Bcf/d during 3Q, up from 3.33 Bcf/d in the…

Lofty oil and natural gas prices played outsized roles in fueling spikes in inflation this year. November proved no exception, with price increases reaching a pace last recorded nearly four decades ago. The U.S. Bureau of Labor Statistics (BLS) said Friday the consumer price index surged 6.8% in November from the same month a year…

Even as demand and prices soared, leading North American natural gas marketers posted uneven results and lower collective sales volumes for the third quarter.  The downward slide continued a trend dating to production curtailments imposed by the coronavirus pandemic in 2020, according to NGI’s quarterly tally. Several marketers reported robust gains in the quarter, however,…

The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 88 Bcf natural gas into storage for the week ended Sept. 24. The result barely exceeded the midpoint of analysts’ estimates, but it was not high enough to curb upward pressure on Nymex natural gas futures. Ahead of the EIA report, the November…

Mexico’s CFEinteranacional (CFEi) transacted 3.79 Bcf/d of natural gas during the second quarter, up 23% year/year, according to the latest NGI Top North American Natural Gas Marketers rankings. CFEi is the international marketing arm of Mexico’s state-owned power company Comisión Federal de Electricidad (CFE). The increase comes amid surging gas exports via pipeline from the…

International natural gas prices leaped in the first three months of this year as economic shocks inflicted by the early 2020 onset of Covid-19 wore off, according to the Department of Energy (DOE). The United States kept its stature as the top North American gas trader, almost doubling former champion Canada’s volume. Total U.S. exports…

“A change to the constitution is something everybody is thinking about but the road ahead looks a bit more complicated given the results of midterm elections,” David Crisostomo, associate director at IHS Markit and seasoned Mexico energy industry expert, told NGI’s Mexico Gas Price Index.  “The results of the midterm elections show that the room…

As U.S. natural gas demand improves, Vine Energy Inc. expects its production in Northwest Louisiana to increasingly be sourced for overseas exports, the company’s CEO said Monday. The Plano, TX-based independent in the spring of 2021 took the company public to secure more investor interest in its 227,000 net acre stronghold in the Haynesville and…