Natural gas prices rebounded Friday from a loss the day earlier as volatile weather forecasts shifted back to expectations for a severe winter chill in late January that could drive a surge in heating demand. The February Nymex gas futures contract climbed 7.1 cents day/day and settled at $2.737/MMBtu on Friday. The advance more than…
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Proved U.S. Oil, Gas Reserves Halt Two-Year Uptrend, Says EIA
A two-year trend of rising proved reserves of oil and natural gas in the United States hit a snag in 2019 as prices declined, according to the Energy Information Administration (EIA). Proved reserves of oil increased 367 million bbl in 2019, while proved reserves of lease condensate produced from gas wells dropped 313 million bbl,…
February Natural Gas Futures Soar to Extend New Year Momentum
Natural gas prices spiked Tuesday, extending the gain made a day earlier to jumpstart 2021 trading, as weather models pointed to fresh bouts of cold air over the Midwest and East in the second half of January. The February Nymex gas futures contract jumped 12.1 cents day/day and settled at $2.702/MMBtu. March advanced 11.2 cents…
August Natural Gas Futures Fail to Find Footing amid Sustained Heat, Containment Concerns
Persistent concerns about coronavirus fallout, weak liquefied natural gas (LNG) exports and potentially premature production increases weighed on markets Friday, outshining optimism about strong cooling demand. The August Nymex contract fell a half-cent day/day and settled at $1.718/MMBtu. September fell 1.1 cents to $1.765. NGI’s Spot Gas National Avg. rose a half-cent to at $1.685.…
With Stronger Heat Looming, Natural Gas Futures Rebound with Double-Digit Avance
New outlook for more extreme heat fueled optimism about seasonally stronger energy demand Monday’s gain marked a stark contrast from the prior week, when the July contract plummeted to a 25-year low before moving off the board Spot prices surged Monday Natural gas futures posted a strong double-digit advance Monday, lifted by updated outlooks for…