storage

With July 4 Weekend, Weekly Natural Gas Prices Give Up Modest Ground

With July 4 Weekend, Weekly Natural Gas Prices Give Up Modest Ground

Spot prices declined for the first week of July gas delivery as expectations for near-term cooling demand eased because of the long July 4 weekend — a holiday stretch typically defined by outdoor activities and reductions in manufacturing and air conditioner use. NGI’s Weekly Spot Gas National Avg. from trading Tuesday through Thursday for the…

July 2, 2020
August Natural Gas Futures Jump After Lower Storage Injection, Signs of Stronger Demand

August Natural Gas Futures Jump After Lower Storage Injection, Signs of Stronger Demand

Natural gas futures advanced Thursday after the latest storage build came in below analysts’ average expectations and indicated that intensifying summer heat had started to drive stronger cooling demand and power burns. The August Nymex contract rose 6.3 cents day/day and settled at $1.734 /MMBtu. September rose 6.4 cents to $1.785.  NGI’s Spot Gas National…

July 2, 2020
August Natural Gas Futures Tumble on Lower LNG Feed Gas Volumes

August Natural Gas Futures Tumble on Lower LNG Feed Gas Volumes

BREAKING: U.S. EIA reports injection of 65 Bcf for the week ending June 26 LNG feed gas demand was down notably Wednesday Forecasts continued to call for strong heat through mid-July Markets will next turn to Thursday’s storage report Natural gas futures lost momentum Wednesday following two days of solid gains, after a disappointing drop…

July 2, 2020
Storage Injection Comes in Below Expectations, Boosting August Natural Gas Futures

Storage Injection Comes in Below Expectations, Boosting August Natural Gas Futures

The U.S. Energy Information Administration (EIA) reported an injection of 65 Bcf for the week ending June 26, a print that fell below analysts’ average expectations and sent natural gas futures higher. Prior to the EIA report, the August contract was up 2.2 cents at $1.693/MMBtu, and the prompt month advanced further to around $1.718…

July 2, 2020
California Rejects Bid to Delay Aliso Natural Gas Storage Safety Tests

California Rejects Bid to Delay Aliso Natural Gas Storage Safety Tests

California regulators have rejected a request from Southern California Gas Co. (SoCalGas) to postpone well testing at the Aliso Canyon underground storage facility because of the coronavirus lockdown. Since the largest methane leak ever occurred at the 3,200-acre, 86 Bcf capacity facility over a four-month period in 2015-2016, new state regulations require all storage wells…

July 2, 2020
Ukrainian Natural Gas Storage Luring European Supply as Markets Come Together

Ukrainian Natural Gas Storage Luring European Supply as Markets Come Together

The European natural gas market is finding refuge in Ukraine, where vast storage facilities are increasingly being utilized by traders, suppliers and utilities in a way that has helped to prevent prices from collapsing into negative territory amid a supply glut.  Ukrtransgaz, which manages storage and the country’s transmission system operator, has incentivized European traders…

July 1, 2020
August Natural Gas Futures Mount Vigorous Rally on Forecasts for More Intense Heat

August Natural Gas Futures Mount Vigorous Rally on Forecasts for More Intense Heat

Natural gas futures posted a strong double-digit advance Monday, lifted by updated outlooks for more extreme July heat that could drive seasonally stronger energy demand. The August Nymex contract surged 16.5 cents day/day and settled at $1.709/MMBtu. It marked a stark contrast from the prior week, when the July contract plummeted to a 25-year low…

June 29, 2020
California Regulators Extend Aliso Canyon Investigation Another Year

California Regulators Extend Aliso Canyon Investigation Another Year

Pointing to the complexity of issues, California regulators on Thursday extended until late 2021 their investigation of Southern California Gas Co.’s (SoCalGas) role in the nation’s largest ever methane leak at the Aliso Canyon underground natural gas storage facility in 2015-16. Under state law, the California Public Utilities Commission (CPUC) has 12 months to complete…

June 29, 2020
Despite Headwinds, Summer Heat Props Up Weekly Natural Gas Prices

Despite Headwinds, Summer Heat Props Up Weekly Natural Gas Prices

Newly intensified coronavirus outbreaks threatened energy demand, but rising summer temperatures across much of the Lower 48 boosted cash prices for the June 22-26 period. NGI’s Weekly Spot Gas National Avg. for the June 22-26 period climbed 9.5 cents to $1.520. Stronger summer conditions took hold during the week – following a relatively mild stretch…

June 26, 2020
Natural Gas Futures Avoid Fifth Straight Day of Loss as Markets Digest ‘Monster’ Storage Injection

Natural Gas Futures Avoid Fifth Straight Day of Loss as Markets Digest ‘Monster’ Storage Injection

Natural gas futures traded in the red much of Friday but staved off a fifth-consecutive decline, recovering some ground from the steep losses posted a day earlier after a colossal storage build spooked markets and amplified entrenched supply/demand worries. The July Nymex contract rose 1.3 cents day/day and settled at $1.495/MMBtu. The July contract moved…

June 26, 2020
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