November

Bakken Shale oil and natural gas production is unlikely to strengthen through the first quarter, according to the latest monthly statistics from North Dakota.

Bakken Shale oil and natural gas production is unlikely to strengthen through the first quarter, according to the latest monthly statistics from North Dakota.

Strong growth in U.S. natural gas production in 2019 will outweigh low inventory levels and put downward pressure on prices, resulting in an average Henry Hub spot price of $3.11/MMBtu for the year, 6 cents below the 2018 average, according to the Energy Information Administration (EIA).

December natural gas is expected to open 9 cents higher Monday morning at $3.07 as weekend weather models injected a cooler temperature regime. Overnight oil markets rose.

November natural gas forward prices fell an average 6 cents between Oct. 20 and Oct. 26 as record production and elusive cold weather forecast for the coming weeks weighed heavily on a market anxious to get the winter heating season underway, according to NGI’s Forward Look.

November natural gas is set to open 3 cents higher Friday morning at $2.90 as weather forecasts also call for cooling in the Midwest, although the East continues warm. Overnight oil markets were mixed.

November natural gas is set to open 5 cents lower Wednesday morning at $2.91 as weather models continue to call for ongoing warmth in key energy markets. Overnight oil markets rose.

Natural gas and oil production from the nation’s seven most prolific onshore unconventional plays will continue its 2017 upswing next month, according to data released Monday by the Energy Information Administration (EIA).

November natural gas is set to open 3 cents higher Friday morning at $3.02 as weather forecasts retain their overall theme of warmth with only minor changes. Overnight oil markets surged.