natural gas forecast

Domestic oil stocks increased for a third consecutive week as demand for petroleum products, including gasoline and jet fuel, declined in tandem with soaring prices.   The U.S. Energy Information Administration (EIA) said Thursday oil inventories for the week ended Oct. 8, excluding those in the Strategic Petroleum Reserve, increased by 6.1 million bbl from the…

American households can expect significant increases in home heating costs this winter, including a 30% increase in natural gas expenditures versus last winter, the U.S. Energy Information Administration (EIA) said Wednesday. The agency said as part of its latest Short-Term Energy Outlook (STEO) that it expects a 3% increase in average U.S. heating degree days…

Under current policies, oil and natural gas production will continue growing through 2050 amid rising global energy consumption driven by developing Asian economies, according to the latest long-term projections from the U.S. Energy Information Administration (EIA). In its International Energy Outlook 2021(IEO2021) report published Wednesday, the agency predicted a nearly 50% increase in global energy…

Natural gas futures on Tuesday declined for a fourth straight session, as traders mulled cooling weather patterns and interruptions to U.S. exports of liquefied natural gas (LNG). Global demand, however, remains robust and stockpiles for winter are tight, leaving open the potential for a supply crunch and a surge in prices in the weeks ahead.…

Recent market tightness could herald “violent price upside” for U.S. natural gas this winter if temperatures are colder than average, according to analysts at Goldman Sachs Commodities Research. In a recent note to clients, Goldman analysts led by Samantha Dart, Damien Courvalin and Huan Wei said bullish Energy Information Administration (EIA) storage data and strong…

Natural gas futures were virtually unchanged in early trading Tuesday as forecasters continued to expect intense heat in the current week to ease later this month. The September Nymex contract was up 0.4 cents to $4.064/MMBtu as of around 8:45 a.m. ET.  With some days in the 15-day window shifting slightly hotter and others slightly…

Electrification alone will be insufficient to decarbonize the energy sector, said speakers at the LDC Gas Forums Northeast event in late July. Enbridge Inc.’s Steve Elliott, director of business development, told the Boston conference that about 80% of the world’s energy is currently consumed as a molecule, with the remaining 20% consumed as an electron.…

Morgan Stanley & Co. LLC has lifted its forecast for key natural gas benchmarks in Asia, North America and Europe amid surging demand, limited supply and low natural gas storage inventories across the world.  Morgan Stanley analysts led by Devin McDermott said global gas demand continues to “surprise to the upside,” particularly in China. Gas…

Natural gas traders shrugged off a cooler change to forecasts over the weekend, sending prices rallying early Monday ahead of prompt month expiration. The expiring July contract was up 5.7 cents to $3.553/MMBtu at around 8:50 a.m. ET. August was up 5.6 cents to $3.576. There are “conflicting forces at work” in the natural gas…