Markets

Though intense heat remains in the cards for the balance of summer, near-term forecasts shifted cooler over the weekend Analysts said still-strong summer temperatures should continue to drive exceptional levels of cooling demand Weak liquefied natural gas demand remains a stubborn headwind Though intense heat remains in the cards for the balance of summer, near-term…

Although economic activity and oil demand are recovering from the first wave of Covid-19, a resurgence of the pandemic in regions such as North and South America “is casting a shadow over the outlook” for the oil market, the International Energy Agency (IEA) said Friday. “Only time will tell if the economic impact will be…

Noble Energy Inc. said Thursday the bulk of its shut-in U.S. oil and gas production would be brought back online in the coming weeks.  Noble, whose vast U.S. portfolio extends across Texas and Colorado, said its second quarter curtailments totaled 11,000 b/d of oil. But “significant improvements in operating costs and netback pricing” will allow…

Natural gas futures advanced Thursday after the latest storage build came in below analysts’ average expectations and indicated that intensifying summer heat had started to drive stronger cooling demand and power burns. The August Nymex contract rose 6.3 cents day/day and settled at $1.734 /MMBtu. September rose 6.4 cents to $1.785.  NGI’s Spot Gas National…

Oil and natural gas exploration will play an essential role in meeting global energy demand through at least 2040, even if human-induced global warming is kept under 2 C, according to a recent analysis by Wood Mackenzie. “Only about half the supply needed to 2040 is guaranteed from fields already onstream,” said Wood Mackenzie’s Andrew…

Natural gas futures posted another solid advance as optimism intensified that summer heat will drive strong energy demand A day earlier the prompt month surged 16.5 cents Forecasts call for strong heat through mid-July across most of the Lower 48 Natural gas futures posted another solid advance Tuesday as optimism intensified that summer heat will…

Covia Corp., which provides proppants for oil and gas well operations across North America, on Tuesday said it had filed for bankruptcy, making it the third U.S. energy company in three days to seek Chapter 11 protection.  The petition to reorganize under Chapter 11 was filed in the U.S. Bankruptcy Court for the Southern District…

Natural gas futures fought off a fifth-consecutive decline amid forecasts for above-normal temperatures A day earlier, futures dropped to a 25-year low after a massive storage build spooked markets  Spot prices lost ground amid lingering concerns about oversupply Natural gas futures traded in the red much of Friday but staved off a fifth-consecutive decline, recovering…

Natural gas futures traded in the red much of Friday but staved off a fifth-consecutive decline, recovering some ground from the steep losses posted a day earlier after a colossal storage build spooked markets and amplified entrenched supply/demand worries. The July Nymex contract rose 1.3 cents day/day and settled at $1.495/MMBtu. The July contract moved…