Natural gas futures fell on Monday for a fourth session as the possibility of an early season storage build later this week outweighed cooler weather trends into late March. At A Glance: NGI models 3 Bcf withdrawal Nymex falls for fourth day Texas cash trades negative again The April Nymex contract settled at $1.759/MMBtu, down…
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Canadian Natural Gas Supply Glut Hampers Prices – Yet Production Cuts Uncertain
Canadian natural gas production and storage are both elevated heading toward shoulder season – much like in the United States – and bearish pressure on prices persists. There are hints that exploration and production (E&P) companies may pull back, following the lead of their Lower 48 brethren and creating the potential for supply/demand balance this…
Texas Natural Gas Storage Project Part of CFE Push to Solidify Mexico Energy Security — Column
Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. CFE International (CFEi), based in Houston, operates as a natural gas marketer and is an affiliated company of the Mexican state-owned electric…
CFE Looking to Develop Texas Natural Gas Storage as Mexico Import Needs Mount — Spotlight
Mexico’s Comisión Federal de Electricidad (CFE) wants to develop natural gas storage in South Texas in time for new industrial projects in Mexico that would require stable and increased shipments from the United States. CFE’s international marketing arm, CFE International, has issued a request for proposals (RFP) from interested parties. The RFP is seeking proposals…
March Natural Gas Futures Rally as Production Dips, Expiry Looms; Spot Prices Slip
Natural gas futures rebounded on Monday, bolstered by lower production readings and trader positioning ahead of the front-month contract’s expiration. At A Glance: NGI models 84 Bcf draw Production at 103 Bcf/d Weather demand evades Coming off back-to-back losses to close out the prior week, the March Nymex gas futures contract settled at $1.659/MMBtu, up…
Natural Gas Forwards Rally as Chesapeake Cuts Provide Uplift for 2024 Strip
A wave of bullish optimism, tied to the production cuts announced recently by Chesapeake Energy Corp., also lifted regional natural gas forwards higher during the Feb. 15-21 trading period, NGI’s Forward Look data show. For numerous Lower 48 trading locations, the most pronounced week/week fixed price gains occurred further along the strip during the 2024…
Natural Gas Futures Finally Find Fresh Footing, Post Modest Advance; Cash Prices Mixed
For the first time in nine sessions, natural gas futures on Friday forged ahead as discount buying finally overtook the mild weather forecasts and elevated supplies that had sapped the will of price bulls most of this month. At A Glance: Prompt month gains 2.8 cents Bargain buying saves the day Fundamentals ‘indelibly weak’ The…
Modest Gains for Natural Gas Futures Ahead of President’s Day Weekend — Midday Market Snapshot
Natural gas futures essentially treading water as bearish week of trading draws to close After starting week around $1.800/MMBtu, March Nymex contract trading at $1.610 as of 2:25 p.m. ET, up 2.9 cents Gelber & Associates analysts see “relatively little volatility and market participation” ahead of President’s Day weekend, as “traders have likely squared away…
Cydsa Sees Opportunity for Mexican Mont Belvieu 
A glaring weak spot in the Mexico natural gas industry is the country’s lack of storage capacity. The issue is repeatedly discussed and considered a risk to national energy security, as Mexico has less than two days’ worth of storage capacity and is vulnerable to unforeseen weather or geopolitical events. According to Raul Puente, the…
Natural Gas Futures Fall as February Contract Rolls Off; Cash Mixed as South Cools Down
Natural gas futures sank Monday as warmer forecasts and rebounding production volumes weighed on outlooks, with the February contract volatile on its last trading day. At A Glance: NGI models 190 Bcf draw Southeast bucks warm trend Production recovery continues The February Nymex gas futures contract dropped 22.2 cents day/day to settle at $2.490/MMBtu. The…