As analysts and traders mulled continuing signs of tightness in the supply/demand balance from the latest government inventory data, natural gas futures advanced several cents in early trading Friday. The October Nymex contract was up 6.3 cents to $4.704/MMBtu at around 8:50 a.m. ET. The Energy Information Administration (EIA) on Thursday reported a 20 Bcf…
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Momentum Growing for Monterrey Index in Latest Mexico Natural Gas Market Survey
Mexico’s industrial center Monterrey was once again picked as the best location for a domestic price index in the fifth survey of the natural gas market undertaken by NGI’s Mexico GPI. The survey, conducted in August, received 30 responses from buyers and sellers in Mexico, compared to 23 for the March survey. While most natural…
Natural Gas Futures Prices Surge as Ida Shuts in Gulf Coast Production
Natural gas futures reached for the stars Friday, exploding higher for a second day as Hurricane Ida appeared to be steering clear of liquefied natural gas (LNG) export facilities as she churned toward the Gulf Coast. The Nymex September contract rolled off the board at $4.370, up 18.6 cents day/day and up 47.3 cents over…
Mexico Natural Gas Market Calls for Storage Capacity, Sees Demand Soaring Over Next Decade
Mexico’s natural gas market needs storage capacity and foresees steady growth in consumption over the coming years, according to the latest Consulta Pública, or public consultation, conducted by Sistrangas national pipeline grid operator Centro Nacional de Control del Gas Natural (Cenagas). Cenagas engages each year with market participants to gauge their current and future gas…
Summer Heat Seen Fading Soon as Natural Gas Futures Slide Early
With hot temperatures in the current week expected to fade after the weekend, natural gas futures lost ground in early trading Tuesday. As of around 8:50 a.m. ET, the September contract was down 3.2 cents to $3.913/MMBtu. The market struggled to find direction in Monday’s session despite sizable gains in projected cooling degree days (CDD)…
Pandemic’s Buoyancy Raises New Concerns About U.S. Natural Gas, Oil Demand
The economic impact of the Covid-19 Delta variant already threatens demand for oil and could dampen consumption of U.S. natural gas, particularly exports to Asia, if new restrictions imposed to slow the virus’ spread in China drag deep into 2021. In the United States, overall case totals and hospitalizations remain lower than the highs reached…
EIA’s Henry Hub Forecast Jumps 20 Cents as Power Sector Not Switching NatGas for Coal
Following surging natural gas prices in July, the Energy Information Administration (EIA) tacked on 20 cents to its expected 2021 average Henry Hub spot price in updated projections published Tuesday. In the latest edition of its Short-Term Energy Outlook (STEO), the agency said it now expects Henry Hub spot prices to average $3.42/MMBtu for all…
Natural Gas to Prove Far More Resilient than Coal Amid Energy Transition, Raymond James Says
Demand for natural gas is likely to prove strong for several more years, and the fuel should maintain its market share in the electricity mix despite a transition to renewable sources of power such as wind and solar, Raymond James & Associates Inc. analysts said. “We believe that gas-fired generation has room to grow on…
Listen Now: NGI’s Hub & Flow Breaks Down Drivers of Natural Gas Rally, Risks Ahead for Winter
Click here to listen to the latest episode of NGI’s Hub & Flow podcast in which NGI Price & Markets Editor Leticia Gonzales is joined by the Energy Information Administration’s Stephen York, industry economist, to discuss the recent spike in natural gas prices. Tight supply/demand balances have lifted Henry Hub gas prices to around $4.00/MMBtu…
Natural Gas Demand to Surpass 2019 Levels by Year’s End, Says BP Chief
Global natural gas demand is forecast to recover and eclipse 2019 levels by the end this year, with liquefied natural gas (LNG) consumption set to climb in Asia, according to BP plc. The London-based integrated energy major delivered its second quarter results on Tuesday, offering a robust outlook for natural gas and oil, even as…