Natural gas futures failed to find footing on Wednesday, seesawing between small gains and losses throughout the session before ultimately ticking down amid mild temperatures across the country and a dearth of new price catalysts. The April Nymex contract settled at $2.816/MMBtu, down 2.3 cents day/day and snapped a two-day win streak to start the…
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Mexico Natural Gas Imports Dip in February Amid Texas Freeze; Prices, Production Down in January
Natural gas pipeline flows from the United States to Mexico averaged 5.3 Bcf/d in February, roughly 380 MMcf/d lower month/month (m/m) and 100 MMcf/d higher year/year (y/y), according to preliminary figures from Wood Mackenzie. Liquified natural gas (LNG) sendout from Mexico’s Altamira, Manzanillo and Energía Costa Azul import terminals averaged 263 MMcf/d, about 240 MMcf/d…
Fog Disrupts Gulf Coast LNG Traffic — The Offtake
A roundup of news and commentary from NGI’s LNG Insight Fog disrupted operations at ports along the Gulf Coast Tuesday, limiting traffic at some LNG terminals. Pilot service was suspended on the Sabine-Neches Waterway and the Calcasieu Ship Channel (CSC), according to Moran Shipping. Service resumed later in the day on the CSC. Feed gas…
Natural Gas Futures Whipsaw After EIA Storage Figure Points to Shrinking Surplus
Natural gas traders appeared to have a bit of sellers’ remorse on Thursday, quickly sending futures prices higher after an initial dip ahead of the latest government storage report. After slipping to a $2.734/MMBtu intraday low, the March Nymex futures contract settled Thursday at $2.935, up 14.6 cents on the day. April jumped 11.7 cents…
Natural Gas Futures Kick off New Year with Solid Gain; Spot Prices Jump
Natural gas futures advanced Monday – the first trading session of 2021 – building on the nearly 12-cent gain to finish last year, with U.S. liquefied natural gas (LNG) exports strong, production flat and the weather-driven demand outlook improved. The February Nymex gas futures contract settled at $2.581/MMBtu, up 4.2 cents day/day. March rose 3.5…
Natural Gas Futures Pummeled by Increasingly Warmer Weather Outlooks; Cash Sinks Too
Natural gas futures tumbled more than 20 cents lower in post-Christmas trading as weather data “failed miserably” over the weekend, shedding a hefty amount of demand from the 15-day outlook. With any opportunity for truly cold weather not expected before the middle of next month, the January Nymex gas futures contract settled Monday at $2.305/MMBtu,…
LNG Dip, Pandemic Worries Keep January Natural Gas Futures in Check; Spot Prices Sink
Despite favorable weather news, natural gas futures traded sideways Monday as worries mounted over a still-surging coronavirus pandemic and its potential impacts on economies and energy demand. The January Nymex contract settled at $2.705/MMBtu, up a half-cent day/day. February ticked up eight-tenths of a cent to $2.689. NGI’s Spot Gas National Avg., meanwhile, declined 19.5…
Record Snowstorm Snaps Natural Gas Forward Losing Streak; Rampant LNG Demand Fuels Price Gains in 2021
Fresh off a record-setting Nor’easter that dumped more snow along the upper East Coast than all the snowstorms in 2019 combined, natural gas forward prices finally snapped a three-week losing streak. January prices jumped 22.0 cents on average between Dec. 10 and 16, while the balance of winter (January-March) climbed 18.0 cents, according to NGI’s…
Gains Mount for Natural Gas Futures as Frosty Temps Creep into Forecasts; Snow Storms Lift Cash
Natural gas futures extended their gains for a fourth consecutive session as weather models continue to tease more cold for the end of the month and into January. The January Nymex contract settled Monday at $2.682, up 9.1 cents from Friday’s close. February climbed 7.5 cents to $2.678. Spot gas prices also rallied at the…
EIA Raises 1Q2021 Brent Forecast as OPEC-Plus Set to Curb Production
Citing a recent decision by the Organization of the Petroleum Exporting Countries and its allies (OPEC-plus) to limit production, the U.S. Energy Information Administration (EIA) on Tuesday raised its forecast for 1Q2021 Brent crude oil prices to $47/bbl, up $5 from projections issued a month earlier. The new Brent price forecast, published Tuesday in the…