storage

February Natural Gas Futures Flounder as Potential for Extreme Cold Eases; Cash Prices Fall

February Natural Gas Futures Flounder as Potential for Extreme Cold Eases; Cash Prices Fall

In a third consecutive day of topsy-turvy trading, natural gas futures ultimately finished firmly in negative territory, as markets fixated more on shifting weather patterns than a bullish storage report and rising U.S. liquefied natural gas (LNG) volumes. The February Nymex gas futures contract settled at $2.666/MMBtu, down 6.1 cents day/day. March fell 5.9 cents…

January 14, 2021
Henry Hub Could Hit $3.50 in 2021 on Projected LNG Export Strength

Henry Hub Could Hit $3.50 in 2021 on Projected LNG Export Strength

An extraordinary surge in freezing temperatures across northern Asia, coupled with liquefied natural gas (LNG) delivery interruptions, are triggering a surge in prices in key U.S. export destinations such as China, Japan and South Korea. At the same time, European storage levels are drawing down quickly, and the result is mounting demand for U.S. LNG…

January 14, 2021
Markets Shrug Off Weather Worries, Push Up February Natural Gas Futures

Markets Shrug Off Weather Worries, Push Up February Natural Gas Futures

Natural gas futures slipped early on Monday following forecasts for mild weather and diminished heating demand. However, they rebounded in afternoon trading and finished in the green amid anticipation of a late-month surge in frigid temperatures. The February Nymex gas futures contract settled at $2.747/MMBtu, up 4.7 cents day/day after falling more than 10 cents…

January 11, 2021
February Natural Gas Futures Claw Out Another Gain, Keep 2021 Momentum Rolling; Cash Prices Advance

February Natural Gas Futures Claw Out Another Gain, Keep 2021 Momentum Rolling; Cash Prices Advance

Natural gas prices traded sideways much of Thursday before creeping upward and ultimately finishing in positive territory. Traders assessed a storage withdrawal that fell short of expectations against continued strong U.S. liquefied natural gas (LNG) exports and the potential for colder domestic temperatures later in January. The February Nymex gas futures contract settled at $2.729,…

January 7, 2021
Natural Gas Futures Kick off New Year with Solid Gain; Spot Prices Jump

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…

January 4, 2021
Enterprise, Navigator Bring Storage Tank Online at Texas Ethylene Export Terminal

Enterprise, Navigator Bring Storage Tank Online at Texas Ethylene Export Terminal

Service has begun on a 30,000-ton refrigerated ethylene storage tank at an export facility in Morgan’s Point, TX, owned through a 50-50 joint venture between affiliates of Enterprise Products Partners LP and Navigator Holdings Ltd., the companies announced Tuesday. The first vessel to utilize the service, a 21,000 cubic meter ethylene gas carrier, was loaded…

December 29, 2020
Record Snowstorm Snaps Natural Gas Forward Losing Streak; Rampant LNG Demand Fuels Price Gains in 2021

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…

December 17, 2020
Canada’s ‘Hydrogen Moment Has Come,’ as Government Eyes Potential to Replace Natural Gas

Canada’s ‘Hydrogen Moment Has Come,’ as Government Eyes Potential to Replace Natural Gas

Pipeline, processing and storage capacity additions would be needed to replace natural gas with zero-carbon hydrogen, according to a review of emerging international fuel substitution goals issued Wednesday by the Canadian government. “At any pressure, the volumetric energy density of hydrogen is about one-third that of natural gas,” said the 141-page report, Hydrogen Strategy for…

December 17, 2020
U.S. Crude Oil Inventory Declines; Weekly Demand Increases But Remains Modest, EIA Says

U.S. Crude Oil Inventory Declines; Weekly Demand Increases But Remains Modest, EIA Says

After jumping a week earlier, domestic oil inventories dropped during the week ended Dec. 11, the U.S. Energy Information Administration (EIA) said Wednesday.   EIA said in its Weekly Petroleum Status Report that U.S. commercial crude oil inventories — excluding those in the Strategic Petroleum Reserve — decreased by 3.1 million bbl from the prior week.…

December 17, 2020
Natural Gas Futures Recover Ahead of EIA Report, but ‘Lift-Off’ Needed; Cash Firms

Natural Gas Futures Recover Ahead of EIA Report, but ‘Lift-Off’ Needed; Cash Firms

Natural gas futures bounced back midweek as the warmer forecast expected this month may be less intense than advertised. A tight supply/demand backdrop added support, lifting the January Nymex contract up 4.3 cents Wednesday to $2.442. February climbed 3.4 cents to $2.456. Spot gas prices strengthened, but gains were fairly small across most of the…

December 9, 2020
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