storage

Weak natural gas prices and inflation are likely to be big topics as North American producers and midstream operators unveil their quarterly results in the coming weeks. SLB Ltd., which has its fingers on the pulse of exploration and production (E&P) customers, has revised its North American outlook for 2023 because of languishing natural gas…

Baseload natural gas prices for May remained under pressure relative to benchmark Henry Hub as bidweek trading commenced on Monday, hindered by benign weather and continued strong production levels. Weakness was pronounced in the nation’s midsection, according to NGI’s Bidweek Alert (BWA), with prices low across the Midwest and Midcontinent. Chicago Citygate basis was trading…

Natural gas futures strengthened Monday as weather models trended cooler for late April, providing support to a market awash in supply but also seeing a surge in LNG demand. The May Nymex gas futures contract settled at $2.275/MMBtu, up 16.1 cents on the day. June futures climbed 13.9 cents to $2.444. At A Glance: Production…

The Energy Information Administration (EIA) reported a 25 Bcf injection into natural gas storage for the week ending April 7, marking the first build of the summer refill season. Natural gas futures prices were lower ahead of what was expected to be a build near the five-year average of 28 Bcf. The May Nymex gas…

Utilities withdrew 23 Bcf of natural gas from storage for the week ended March 31, the U.S. Energy Information Administration (EIA) reported Thursday. The result was essentially on par with market expectations, leaving Nymex natural gas futures to drift lower. “Overall neutral release,” said one participant on the online energy platform Enelyst. Ahead of the…

Natural gas futures, under heavy pressure most of 2023 amid mild weather and strong production, found a path forward for a second consecutive session on Wednesday as traders focused on export strength and expectations for a bullish inventory report.  At A Glance: Prompt month posts 4.9-cent gain Analysts see low 20s Bcf withdrawal Production slowed…

Natural gas futures fell Monday, kicking off the new month much in the way 2023 has gone so far – under pressure from strong production, modest weather-driven demand and stout storage supplies. At A Glance: Prompt month sheds 11.9 cents Production, supplies robust Weakening weather outlook The May Nymex gas futures contract settled at $2.097/MMBtu,…

Though lingering chilly weather may bolster demand in some parts of the country in April, stubbornly high production and unseasonably strong storage inventories sent natural gas bidweek prices tumbling. NGI’s April Bidweek National Avg. dropped 69.0 cents month/month to $2.180/MMBtu. Some of the biggest decreases were seen in the western United States, where losses of…

The selloff continued for the majority of U.S. natural gas forward markets in the final week of March as production proved too lofty amid declining weather-driven demand and healthy inventory levels.  The April contract rolled off the board between 10 and 20 cents lower, while the May contract – which took over the prompt-month position…