Prices

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
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