Prices

Colder Weather Data Provides Late Bump for Natural Gas Futures, but LNG Recovery Murkier

Colder Weather Data Provides Late Bump for Natural Gas Futures, but LNG Recovery Murkier

Natural gas futures started off the week lower amid further uncertainty surrounding the pace of liquefied natural gas (LNG) export recovery. A “complicated” weather outlook also left traders unsure of where to price gas, but a chillier turn in Monday’s midday models ultimately lifted the November Nymex contract up 2.2 cents to $2.795. December nudged…

October 19, 2020
LNG Demand Recovery Spurs Double-Digit Gain for Natural Gas Futures Prices; Cash Surges Too

LNG Demand Recovery Spurs Double-Digit Gain for Natural Gas Futures Prices; Cash Surges Too

With Gulf Coast liquefied natural gas (LNG) facilities unscathed by Hurricane Delta, export demand’s quick rebound combined with a chillier forecast to send natural gas futures sharply higher Monday. The November Nymex gas futures contract jumped 14.0 cents to settle at $2.881. December climbed 6.7 cents to $3.271. Spot gas prices also posted stout increases…

October 12, 2020
U.S. Oil Production Recovers Ground but Existing Well Declines Remain a Drag, Says EIA

U.S. Oil Production Recovers Ground but Existing Well Declines Remain a Drag, Says EIA

U.S. crude oil production rebounded in September, though researchers anticipate new declines in the coming months. Oil production climbed to an estimated 11.2 million b/d in September from 10.8 million b/d in August, the Energy Information Administration (EIA) said in the latest Short-Term Energy Outlook (STEO). Production averaged 11.0 million b/d in July, up 0.5…

October 7, 2020
Natural Gas Futures Blast Higher as LNG Demand Climbs, Cash Prices Surge

Natural Gas Futures Blast Higher as LNG Demand Climbs, Cash Prices Surge

After sinking near the 200-day moving average at the end of last week, natural gas futures bounced back with a vengeance Monday thanks to stronger liquefied natural gas (LNG) feed gas demand and strong cash prices. The November Nymex gas futures contract hit a $2.727/MMBtu intraday high before settling at $2.615, up 17.7 cents from…

October 5, 2020
Shell Readies Big Layoffs, Cites ‘Significant Impact’ to LNG Margins on Lagging Oil Prices

Shell Readies Big Layoffs, Cites ‘Significant Impact’ to LNG Margins on Lagging Oil Prices

Royal Dutch Shell plc’s global workforce by the end of 2022 is expected to have up to 9,000 fewer people, including 1,500 taking voluntary retirement this year, the energy major said in a third quarter update. Post-tax impairments in the 3Q2020 update were estimated at $1-1.5 billion. The preliminary report indicated that Shell expects to…

October 1, 2020
October Natural Gas Futures Drop amid LNG Setback, Storms and Cooler Temps

October Natural Gas Futures Drop amid LNG Setback, Storms and Cooler Temps

Natural gas futures plunged on Monday as traders digested weaker liquified natural gas (LNG) volumes, potential demand destruction from a new tropical storm and forecasts for milder temperatures in the Midwest. The October Nymex contract settled at $1.835/MMBtu, down 21.3 cents day/day. It marked the first time since early August that the prompt month closed…

September 21, 2020
October Natural Gas Futures Narrow Losses After Storage Report Meets Expectations

October Natural Gas Futures Narrow Losses After Storage Report Meets Expectations

The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 70 Bcf natural gas storage for the week ending Sept. 4, aligning with forecasts and easing early pressure on Nymex natural gas futures. Ahead of the report, a Bloomberg survey found estimates ranging from 60 Bcf to 73 Bcf, with a median of…

September 10, 2020
October Natural Gas Futures Tread Water Following Modest Storage Injection

October Natural Gas Futures Tread Water Following Modest Storage Injection

Natural gas futures broke even Thursday as markets looked past improved U.S. liquefied natural gas (LNG) export demand and a light storage report to the expected onset of fall weather, eased cooling demand and the likelihood of more robust stockpile injections in coming weeks. The October Nymex contract inched up one-tenth of a cent day/day…

September 3, 2020
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
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