The Freeport LNG facility in Texas once again rocked North American natural gas markets this week with news that its 2 Bcf/d restart would be delayed by a few weeks. North American futures prices crumbled on the news on Tuesday, before regaining some ground on Wednesday amid higher power demand. The September New York Mercantile…
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Natural Gas Futures Rise Ahead of Storage Inventory Report; California Cash Plunges
After some back and forth early in Wednesday’s trading session, natural gas futures landed in the green amid a continued pull on gas for power generation. Aided by continued supply worries in Europe that have fueled record gas prices on the continent, the September Nymex gas futures contract settled at $9.330/MMBtu, up 13.7 cents from…
Callon Raising Natural Gas Price Exposure at HSC, Reducing Waha
Recent Permian Basin natural gas pipeline marketing deals will reduce Callon Petroleum Corp.’s reliance on Waha Hub pricing, management of the Texas-focused independent said earlier this month. “These transactions will increase our pricing exposure to Gulf Coast gas pricing and provide additional flow assurance benefits,” CEO Joe Gatto told analysts during the second quarter earnings…
Mexico’s Natural Gas Production Rises for Third Straight Month as Oil Dips
Mexico’s natural gas production averaged 4.1 Bcf/d in July, up from 4.04 Bcf/d in June and 3.86 Bcf/d in July 2021, according to the latest figures from upstream regulator Comisión Nacional de Hidrocarburos (CNH). The figure represents the third straight sequential increase for monthly gas output in the country. State oil company Petróleos Mexicanos (Pemex)…
Natural Gas Futures Plummet After Freeport Pushes Back Restart; Cash Remains Strong
In a huge blow to natural gas bulls licking their chops at the sight of $10 gas, Freeport LNG’s announcement that it would not begin initial production until November, rather than the October startup previously targeted, crushed futures. After surging to a $10.028/MMBtu intraday high, the September Nymex gas futures contract plunged 48.7 cents day/day…
Natural Gas Futures Follow European Prices Higher in Another Volatile Session
Natural gas futures flew higher Monday on the back of surging global gas prices, with technical momentum working in favor of bulls looking to take out $10/MMBtu. After coming within pennies, however, that goal proved out of reach and the September Nymex gas futures contract ultimately settled at $9.680, up 34.4 cents from Friday’s close.…
Natural Gas Futures Higher on Growing Storage Deficits, Disappointing Production
With production remaining well off recent highs and a concerning storage trajectory ahead of winter, natural gas futures rebounded to close of the week. The September Nymex gas futures contract settled Friday at $9.336, up 14.8 cents from Thursday’s close. October futures climbed 14.5 cents to $9.315. Spot gas prices fell on Friday, though, as…
Natural Gas Futures End Volatile Week On Firmer Ground Amid Persistent Supply Worries
With production remaining well off recent highs and a concerning storage trajectory ahead of winter, natural gas futures rebounded to close of the week. The September Nymex gas futures contract settled Friday at $9.336, up 14.8 cents from Thursday’s close. October futures climbed 14.5 cents to $9.315. At A Glance: Potential storage shortfall in focus…
‘More Ammo Needed’ for Natural Gas Futures After Perplexing Plunge on Bullish Storage Data
Someone poured natural gas futures traders a little too much coffee Thursday, with prices all over the place throughout the session. After surging to a $9.663/MMBtu intraday high and then plunging to an $8.913 intraday low, the September Nymex contract finally settled the day at $9.188, down 5.6 cents from Wednesday’s close. October futures finished…
North American Natural Gas Trading ‘Pure Chaos,’ but Futures Still Above $9 – Mexico Spotlight
Natural gas futures prices in North America continue to be elevated this week amid a lack of clarity surrounding the overall supply picture. NatGasWeather called Thursday’s trading “pure chaos” as traders reacted to a small U.S. storage build for last week. Prices for September’s New York Mercantile Exchange contract bounced all over the place before…