Prices

Natural Gas Futures Post Jaw-Dropping 30-Cent Gain; Cash Strong Too

Natural Gas Futures Post Jaw-Dropping 30-Cent Gain; Cash Strong Too

In a shocking move that appears to be based on more than pure fundamentals, natural gas futures surged as much as 35.5 cents on Monday, busting out of their previous trading range and closing nearly 17% higher than Friday. The September contract reached a $2.154/MMBtu intraday high before going on to settle at $2.101, up…

August 3, 2020
Stung by Steep 2Q Decline in Commodity Prices, Total Sees More Volatility Ahead

Stung by Steep 2Q Decline in Commodity Prices, Total Sees More Volatility Ahead

Total SE recorded a big loss in the second quarter and took an $8.1 billion impairment as oil, natural gas and liquefied natural gas (LNG) prices all declined precipitously and the global economy reeled from the Covid-19 pandemic. An oil market crisis, historically low natural gas prices and the economic slowdown in Europe decreased petroleum…

July 31, 2020
September Natural Gas Futures Slump After Storage Report, Cooler Weather Forecasts

September Natural Gas Futures Slump After Storage Report, Cooler Weather Forecasts

September natural gas futures sunk on Thursday after a higher-than-expected storage build and forecasts for moderating heat amplified demand and containment concerns as fall approaches. In its first trading day on the books as the prompt month, the September Nymex contract shed 10.1 cents day/day and settled at $1.829/MMBtu. October fell 8.8 cents to $1.991. …

July 30, 2020
Don’t Mess with Texas Oil and Natural Gas, Trump Tells Permian Crowd

Don’t Mess with Texas Oil and Natural Gas, Trump Tells Permian Crowd

President Trump rallied West Texas oil and natural gas workers on Wednesday afternoon during a visit to Midland, in the heart of the Permian Basin, touting American energy dominance and claiming the industry is not only back on track but expanding. The campaign speech of sorts came during a brief visit after the president toured…

July 30, 2020
August Natural Gas Futures Find Momentum Amid Expectations for Lower Storage Build

August Natural Gas Futures Find Momentum Amid Expectations for Lower Storage Build

Traders shrugged off early weather concerns Wednesday and nudged August natural gas futures higher as major polls showed expectations for a positive storage injection report that would reflect improved supply/demand balance. The August Nymex contract rose six-tenths of a cent day/day and settled at $1.681/MMBtu. September climbed four-tenths of a cent to $1.718.  NGI’s Spot…

July 22, 2020
August Natural Gas Pares Losses as Summer Heat Continues to Support Demand

August Natural Gas Pares Losses as Summer Heat Continues to Support Demand

Natural gas futures were trading close to even early Tuesday as the market continued to weigh hotter-than-normal summer temperatures against indications of underlying looseness in the supply/demand balance. Paring its losses from the previous session, the August contract was trading 1.3 cents higher at $1.654/MMBtu at around 8:40 a.m. ET. In the overnight weather data,…

July 21, 2020
North Dakota Reports ‘Five-Alarm Fire’ as Production Tumbles

North Dakota Reports ‘Five-Alarm Fire’ as Production Tumbles

Calling it a “five-alarm fire,” North Dakota’s chief oil and gas regulator on Friday reported record oil and gas production declines during May among a sea of inactive or under-active Bakken Shale wells. May oil production fell 30% to 26.6 million bbl (858,000 b/d), compared to 36.6 million bbls (1.2 million b/d) in April. Natural…

July 20, 2020
Hawaii Residents Pay Most for Natural Gas, with Idaho Ranked Lowest, Says WalletHub

Hawaii Residents Pay Most for Natural Gas, with Idaho Ranked Lowest, Says WalletHub

Connecticut residents pay the most of any state overall for their energy, whether it be natural gas, electricity, home heating oil and motor fuel, while Washington, DC, residents pay the least, according to a new report by WalletHub. The Evolution Finance Inc. subsidiary found that on average, Connecticut residents spend $372/month for their energy, whereas…

July 17, 2020
Natural Gas Forwards Hit ‘Neutral’ as Heat, Storage Fail to Inspire Rally

Natural Gas Forwards Hit ‘Neutral’ as Heat, Storage Fail to Inspire Rally

Coming off a sharp surge from the prior week, natural gas forwards sputtered a bit during the July 9-15 period as spiking coronavirus cases across the United States threatened continued economic and energy demand recovery, according to NGI’s Forward Look. Meanwhile, higher oil prices have incentivized producers to return to the oil patch, resulting in…

July 16, 2020
As Intense Heat Simmers, August Natural Gas Futures Trade Higher Ahead of Next Storage Report

As Intense Heat Simmers, August Natural Gas Futures Trade Higher Ahead of Next Storage Report

Natural gas futures advanced Wednesday as markets mulled prospects for continued intense heat along and estimates for a bullish storage injection report. The August Nymex contract advanced 3.2 cents day/day and settled at $1.778/MMBtu. September rose 3.1 cents to $1.818.  NGI’s Spot Gas National Avg. declined a half-cent to $1.670. Bespoke Weather Services said that…

July 15, 2020
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