storage

BWC Boosts Gulf Coast Liquids Storage Assets with Texas City Terminals Purchase

BWC Boosts Gulf Coast Liquids Storage Assets with Texas City Terminals Purchase

BWC Terminals is expanding its presence on the Gulf Coast, completing the $106 million acquisition of liquid storage assets in Texas City, TX. Houston-based BWC, a provider of bulk liquid storage and logistics services with terminals across 13 states in North America, purchased the Texas City terminal from NuStar Energy LP. The acquisition complements BWC’s…

December 9, 2020
EIA Raises 1Q2021 Brent Forecast as OPEC-Plus Set to Curb Production

EIA Raises 1Q2021 Brent Forecast as OPEC-Plus Set to Curb Production

Citing a recent decision by the Organization of the Petroleum Exporting Countries and its allies (OPEC-plus) to limit production, the U.S. Energy Information Administration (EIA) on Tuesday raised its forecast for 1Q2021 Brent crude oil prices to $47/bbl, up $5 from projections issued a month earlier. The new Brent price forecast, published Tuesday in the…

December 9, 2020
January Natural Gas Plunges to $2.40 as ‘Domination of Warmth’ Set to Continue in December

January Natural Gas Plunges to $2.40 as ‘Domination of Warmth’ Set to Continue in December

Though not completely unexpected, natural gas futures cratered Monday as long-range weather outlooks grew even milder. With December on track to come in within the Top 10 warmest on record, the January Nymex gas futures contract settled at $2.406, down 16.9 cents from Friday’s close. February dropped 15.3 cents to $2.433. Spot gas prices also…

December 7, 2020
Natural Gas Futures Regain Pulse Following Massacre, but Weather Looks ‘Increasingly Unfriendly’

Natural Gas Futures Regain Pulse Following Massacre, but Weather Looks ‘Increasingly Unfriendly’

After Thursday’s bloodbath, natural gas futures rebounded a bit on Friday even as weather models continued to add warmth to the December outlook. The January Nymex gas futures contract finished the week at $2.575/MMBtu, up 6.8 cents day/day. February picked up 7.1 cents to reach $2.586. Spot gas prices were mixed, with the most notable…

December 4, 2020
January Natural Gas Futures Advance on Signs of Stronger Heating Demand; Spot Prices Spike

January Natural Gas Futures Advance on Signs of Stronger Heating Demand; Spot Prices Spike

Natural gas futures climbed Monday as more intense winter weather loomed and forecasters predicted colder temperatures over the first half of December, increasing the likelihood of greater heating demand. The January Nymex contract rose 3.9 cents day/day to settle at $2.882/MMBtu after taking over as the prompt month following the Thanksgiving holiday. February advanced 3.3…

November 30, 2020
December Natural Gas Futures Finish Week on a High Note After EIA Reports Decrease in Storage

December Natural Gas Futures Finish Week on a High Note After EIA Reports Decrease in Storage

Futures rallied throughout the abbreviated trading week EIA reported a pull of 18 Bcf from gas storage The first third of December could be slightly colder than norms With forecasts hinting at the potential for colder temperatures to move into the United States around the middle of December, natural gas futures rebounded in early trading…

November 30, 2020
Weekly Natural Gas Prices Essentially Break Even Amid Shifts in Weather

Weekly Natural Gas Prices Essentially Break Even Amid Shifts in Weather

In a choppy and abbreviated week of trading influenced by shifting weather patterns and demand uncertainty, weekly cash prices ultimately posted a slight loss. NGI’s Weekly Spot Gas National Avg. for the Nov. 23-25 period declined a half-cent to $2.325. The market week was shortened to three days due to the Thanksgiving holiday. Natural gas…

November 25, 2020
December Natural Gas Futures Fly Higher Following Storage Withdrawal; Spot Prices Falter

December Natural Gas Futures Fly Higher Following Storage Withdrawal; Spot Prices Falter

Natural gas futures rallied a third consecutive day in the short holiday week, as markets digested a storage decrease and hints of stronger demand before the December contract rolled off the board as the prompt month at the close of trading Wednesday. The December Nymex contract jumped 12.1 cents day/day to settle at $2.896/MMBtu. January…

November 25, 2020
December Natural Gas Futures Rebound as EIA Reports On-Par Storage Withdrawal

December Natural Gas Futures Rebound as EIA Reports On-Par Storage Withdrawal

The U.S. Energy Information Administration (EIA) on Wednesday reported a withdrawal of 18 Bcf from natural gas storage for the week ended Nov. 20, led by a relatively large pull in the East. The result was roughly on par with expectations set by major polls, and Nymex natural gas futures rebounded on the news. Ahead…

November 25, 2020
December Natural Gas Futures Post Third-Straight Gain; Spot Prices Sputter

December Natural Gas Futures Post Third-Straight Gain; Spot Prices Sputter

Weather forecasts held on to slightly cooler expectations LNG and production levels were both strong Cash prices were led lower by drops in the Northeast Natural gas futures posted a modest gain Tuesday, marking a third consecutive day of advances as traders contemplated a mixed weather outlook and wide-ranging expectations for this week’s early storage…

November 25, 2020