natural gas forecast

Natural gas in U.S. storage remains swollen, reflecting an exceptionally mild winter and record levels of production. The one-two punch weighed on prices through most of the heating season and raised concerns about an enduring bear market. Yet elevated supplies in storage may ultimately lose much of the current bearish bite. Prices see-sawed over the…

U.S. natural gas markets are looking dire for sellers, with futures diving near depths last seen during the Covid-19 pandemic. Several catalysts lie ahead, though, that could create a floor and set the stage for a rebound, according to analysts. The March New York Mercantile Exchange (Nymex) contract fell below the $2.000/MMBtu level on Feb.…

Oil and gas executives in the Eleventh Federal Reserve District have modestly increased their expectations for the U.S. natural gas price by year-end, according to the latest survey by the Federal Reserve Bank of Dallas. The Dallas Fed, as it is better known, conducts a quarterly survey of energy companies in the district, which covers…

Global energy demand is set to rise as income and population grow, with natural gas, oil and coal in 2050 still meeting more than half of total consumption, in part because of the high cost of new technologies, according to Wood Mackenzie. The consultancy’s 2023 Energy Transition Outlook (ETO) highlights the “energy challenge trinity” impacting…

Lower natural gas prices and refining margins may pull ExxonMobil’s second quarter profits down from the first three months of the year by nearly $4 billion. In a Form 8-K filing with the U.S. Securities and Exchange Commission, the supermajor previewed the factors impacting 2Q2023 results. ExxonMobil is facing the same dilemma as its peers…

Banks that lend to the oil and gas sector have substantially reduced their expectations for natural gas prices over the next couple years, according to a new survey by Haynes and Boone LLP. The law firm conducts a biannual Energy Bank Price Deck Survey of banks that offer reserve-based lending (RBL), a vital funding source…

Amid lower-than-expected heating demand this winter, the Energy Information Administration (EIA) said Tuesday it is raising its projected end-March natural gas storage carryout to more than 1.9 Tcf, a 27% increase compared to projections issued in January. A 1.9 Tcf end-March carryout would also represent a 23% surplus to the prior five-year average, EIA said…

The U.S. natural gas market is expected to have a greater impact on the global LNG trade in the future as more projects are built and the world’s supply contracts are increasingly tied to Henry Hub, Shell plc reported Thursday in its annual liquefied natural gas outlook.  Qatar and the United States are expected to…

U.S. natural gas prices are expected to prove volatile through much of 2023, though the lofty $10 handle approached last summer appears far from reach, given ample supplies and the specter of a recession. Such is the assessment of the Energy Information Administration (EIA) in a report released Thursday. In the supplement to its latest…