Natural gas futures on Wednesday lost ground for the third time in four sessions, succumbing to spring weather expectations and stout production levels. The April Nymex gas futures contract settled at $2.171/MMBtu, down 17.7 cents day/day. May fell 17.8 cents to $2.307. At A Glance: Front month sheds 17.7 cents day/day Next-day cash prices under…
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Natural Gas Consumption in 2022 Hits Record High, but Will It Continue?
U.S. natural gas consumption averaged 88.5 Bcf/d last year, an all-time high in records dating back to 1949, according to the Energy Information Administration (EIA). The federal agency said natural gas consumption peaked last year in January and July. EIA noted that natural gas peaks twice a year in the United States, driven by the…

Natural Gas Futures, Spot Prices Fall Second Day as Market Braces For Bearish Storage Report
Natural gas futures faltered on Wednesday, a second-consecutive loss, as analysts anticipated another soft government inventory print and traders started to look past a late-winter surge of cold and toward likely benign spring weather. At A Glance: Analysts see modest storage draw Forecasts call for near-term cold Mixed reads on gas production The April Nymex…

Down Day for Natural Gas Futures, Cash as Mild Weather Proves Formidable Force
Natural gas futures failed to sustain the prior day’s gains, instead sliding ahead of what’s expected to be another smaller-than-normal storage withdrawal in the upcoming government inventory report. The April Nymex gas futures contract settled Wednesday at $2.551/MMBtu, off 13.6 cents from Tuesday’s close. May futures shed 12.7 cents to reach $2.713. At A Glance:…

China’s LNG Demand Considered ‘Great Unknown’ for Global Price Volatility
The International Energy Agency (IEA) anticipates that price volatility and intense competition over LNG volumes could heat up again this year despite months of falling prices, but the outlook is still “highly uncertain,” especially when it comes to Chinese demand. Europe’s rush to fill winter storage and replace Russian pipeline flows last year with pricey…

Natural Gas Futures Extend Winning Streak; Cash Prices Strengthen Across Lower 48
Natural gas futures forged higher for a sixth consecutive session on Wednesday as traders focused on weakening production and forecasts for chilly March conditions. The April Nymex gas futures contract settled at $2.811/MMBtu, up 6.4 cents day/day. May rose 8.0 cents to $2.943. At A Glance: Analysts see storage pull in 70s Bcf Mid-March forecasts…

Mexican Nearshoring Opportunities Seen Spurring Energy Needs
The massive opportunities presented by nearshoring were all the rage last week at a packed energy conference in Monterrey, Nuevo León. Industry Exchange LLC’s 8th Mexico Infrastructure Projects Forum kicked off with government officials and executives expounding on the theme. Nuevo León Economy Secretary Iván Rivas said, “We will do everything to take advantage of…

Natural Gas Futures, Spot Prices Plunge as Weak Demand Outlook Overshadows Big Storage Pull
Natural gas futures resumed a downward spiral on Thursday after a hefty but disappointing storage withdrawal failed to impress markets, leaving traders to focus on forecasts for mild weather and diminished demand through January. At A Glance: EIA prints 221 Bcf draw Production bounces back Demand begins to fade The February Nymex gas futures contract…

February Natural Gas Futures Flop Despite 221 Bcf Storage Withdrawal
The U.S. Energy Information Administration (EIA) on Thursday reported a withdrawal of 221 Bcf natural gas from underground storage for the week ended Dec. 30. The result, while massive relative to historic norms, fell shy of expectations and left Nymex natural gas futures deep in negative territory. Ahead of the 10:30 ET government report, the…

Bolstered by Lofty Storage Withdrawal Expectations, Natural Gas Futures Prices Notch First Gain of 2023
Natural gas futures found fresh footing in positive territory Wednesday, marking the first gain of 2023, amid estimates for a massive storage withdrawal report. At A Glance: Near-term weather favorable for bulls Analysts see triple-digit storage pull Outlook shows heating demand fading After dropping 48.7 cents in the previous session and closing below $4.00, the…