U.S. oil and gas drilling permits climbed 23% year/year in October and were up 39% from September, a strong sign that activity is likely to improve early next year, Evercore ISI said Thursday.
Articles from October
November natural gas is expected to open 8 cents higher Monday morning at $3.00 as forecasters see a building Alaskan ridge and cooling temperatures in the Midwest and Midcontinent. Overnight oil markets were mixed.
October natural gas is expected to open 2 cents lower Thursday morning at $3.07 ahead of government figures anticipated to show well above normal inventory additions. Overnight oil markets fell.
October natural gas is set to open a penny higher Wednesday morning at $3.13 as overnight weather models turned warmer. Overnight oil markets rose.
The Eagle Ford Shale will see small declines in oil and natural gas production in October compared to September, but total production out of the nation’s seven most prolific onshore unconventional plays will still continue to increase, according to data from the Energy Information Administration (EIA).
October natural gas is expected to open a penny lower Thursday morning at $3.05 as traders anticipate the release of government storage data showing injections well above historical averages. Overnight oil markets were mixed.
October natural gas is set to open 4 cents higher Monday morning at $2.93 as weather forecasts near term turn warmer. Overnight oil markets were mixed.
October natural gas is set to open 2 cents lower Friday morning at $2.96 as Irma-related issues inject a greater degree of uncertainty than normal into overnight weather data. Overnight oil markets were narrowly mixed.
Natural gas prices for October fell an average 12 cents from Sept. 1 to 6 as a trifecta of factors created the only logical path for forward markets during the short holiday week, according to NGI’s Forward Look. NGI was closed Sept. 4 in observance of Labor Day.
October natural gas is set to open 2 cents lower Wednesday morning as overnight data suggested continued cooling in eastern and Midwest energy markets. Overnight oil markets were mixed.