Prices

The United States Energy Information Agency (EIA) said in a note on Monday that it expects Mexico natural gas exports to rise quickly with the entry into operation of the Villa de Reyes-Aguascalientes-Guadalajara (VAG) pipeline. The 890 MMcf/d VAG pipeline is the final stretch of a system that runs from the Permian Basin in West…

Dragged down by loose balances amid weaker export demand, natural gas prices skidded lower in July bidweek trading even as a toasty forecast offered some encouragement for the bulls. NGI’s July Bidweek National Avg. fell 9.5 cents month/month to $1.450/MMBtu. That marks a 53-cent decline from the $1.980 average NGI recorded for July 2019 bidweek,…

Natural gas futures posted another solid advance as optimism intensified that summer heat will drive strong energy demand A day earlier the prompt month surged 16.5 cents Forecasts call for strong heat through mid-July across most of the Lower 48 Natural gas futures posted another solid advance Tuesday as optimism intensified that summer heat will…

California Resources Corp. (CRC), the state’s largest producer, last week in its delayed Form 10-Q filing for 1Q2020 to the Securities and Exchange Commission (SEC) said it had taken a $1.7 billion impairment charge. Net losses for the quarter totaled $1.79 billion, (minus $36.43/share), compared with a $67 million loss (minus $1.38) for the same…

A hotter-trending weather outlook over the weekend helped lift natural gas futures sharply higher in early trading Monday. The August Nymex contract was up 7.6 cents to $1.620/MMBtu at around 8:40 a.m. ET. Coming off hotter trends over the weekend, Bespoke Weather Services said the next two weeks are looking “very impressive in terms of…

Posting its smallest weekly decline in months, the U.S. rig count dropped one unit to finish at 265 for the week ending Friday (June 26), suggesting that upstream activity could finally be stabilizing after a prolonged period of Covid-induced retrenchment. According to the latest Baker Hughes Co. (BKR) data, total U.S. natural gas-directed rigs finished…

Natural gas futures plunged Thursday after a hefty storage injection that easily surpassed the high end of analysts’ expectations and magnified supply/demand imbalance worries amid a coronavirus pandemic that has crippled economic activity and dwindled U.S. exports. The July Nymex contract dropped 11.5 cents day/day and settled at $1.482 /MMBtu — a fourth-consecutive day of…

Natural gas futures traded in a narrow range most of Wednesday, as markets weighed the prospects of heat-driven demand against continued liquefied natural gas (LNG) export weakness. But the prompt month ultimately finished in the red, dragged lower along with bearish storage injection estimates. The July Nymex contract settled at $1.597/MMBtu, down 4.0 cents day/day.…

For a second consecutive day, natural gas futures gave up ground Tuesday on a weakening heat outlook Increased power demand is needed as production shows signs of increasing and liquefied natural gas exports remain soft Spot prices also dropped as enthusiasm chilled on cooler weather Natural gas futures gave up more ground Tuesday on a…