Natural gas futures climbed back into positive territory on Friday amid updated forecasts for freezing conditions to extend into next month and expectations for stout withdrawals from storage. The February Nymex gas futures contract settled at $3.999, up 19.7 cents day/day. March rose 13.3 cents to $3.782. NGI’s Spot Gas National Avg., in contrast, shed…
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February Natural Gas Futures Bounce Back, Buoyed by Forecast Shift, Export Strength
Natural gas futures climbed back into positive territory on Friday amid updated forecasts for freezing conditions to extend into next month and expectations for stout withdrawals from storage. The February Nymex gas futures contract settled at $3.999, up 19.7 cents day/day. March rose 13.3 cents to $3.782. NGI’s Spot Gas National Avg., in contrast, shed…
U.S. Natural Gas Prices Forecast to Hold Steady in 2022, with LNG Exports Likely Facing More Volatility
Attempting to predict the direction of natural gas prices is much like predicting the weather. A week out, the weather forecaster or gas price prognosticator might hit the number on the nose. Two weeks out, a Winter Storm Uri look-alike could plunge temperatures below freezing with 24 hours’ notice, and gas prices could jump to record highs.
Mexico’s CFE Set to Launch Natural Gas Pipeline Tenders
Mexican state power utility Comisión Federal de Electricidad (CFE) is seeking private sector firms to build new natural gas infrastructure and utilize capacity on its existing pipelines, executives said Wednesday. Speaking at Industry Exchange LLC’s 7th Mexico Infrastructure Projects Forum in Monterrey, Nuevo León, CFE Internacional (CFEi) operations director Carmen Serdán and CFEnergía operations director…
U.S. Energy Secretary Headed To Mexico Amid Tensions Over Proposed Electricity Reform
Mexican President Andrés Manuel López Obrador said during his daily press conference early Monday he planned to discuss his proposed constitutional electric power reform with U.S. Energy Secretary Jennifer Granholm during a scheduled trip to Mexico City this week. The dates Granholm was expected to be in the country had not been confirmed late Tuesday.…
February Natural Gas Futures Tick Lower Despite LNG Momentum, Production Risks
Natural gas futures trended lower early Friday amid hints of long-range warmth but ultimately finished nearly flat as cash markets and export demand held strong. The February Nymex gas futures contract settled at $4.262/MMBtu, down eight-tenths of a cent day/day. March, however, gained 7.6 cents to $4.081. At A Glance: Cold front looms but may…
Impending Cold Blast in Texas Spelling Natural Gas Volatility – Mexico Spotlight
With freezing weather on the horizon throughout much of the United States, including Texas, February natural gas prices at hubs key to Mexico shot up this week. The Henry Hub February contract closed at $4.857/MMBtu on Wednesday, up 60.8 cents on the day and more than $1 from one week ago. Agua Dulce was up…
Anticipated Deep Freeze Sends February Natural Gas Futures to Fresh 2022 High
Natural gas futures surged on Wednesday, extending the first lengthy rally of 2022 to four straight days as forecasts for bitter cold temperatures and lofty heating demand intensified. The February Nymex gas futures contract soared 60.8 cents day/day and settled at $4.857. March jumped 35.9 cents to $4.327. At A Glance: BREAKING: U.S. EIA reported…
February Natural Gas Futures Exceed $4 Second Straight Day
Natural gas futures advanced for a third consecutive session on Tuesday, led higher by mounting levels of U.S. exports, as well as continued expectations for robust domestic demand and increased storage withdrawals. The February Nymex gas futures contract gained 17.0 cents day/day and closed at $4.249/MMBtu. March rose 13.4 cents to $3.968. NGI’s Spot Gas…
February Natural Gas Futures Float to 2022 High Amid LNG Strength, Colder Forecasts
Natural gas futures on Monday closed above $4.00 for the first time this year as European calls for U.S. exports remain robust and forecasts point to continued strong domestic weather-driven demand. The February Nymex gas futures contract settled at $4.079/MMBtu, up 16.3 cents day/day. March rose 10.8 cents to $3.834. NGI’s Spot Gas National Avg.…