Overall drilling activity in the United States held steady to close out 2021, with the combined domestic count finishing unchanged at 586 for the week ended Friday (Dec. 31), according to updated figures published by Baker Hughes Co. (BKR). Total oil-directed rigs in the United States held steady at 480, while natural gas-directed rigs were…
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Upcoming Chill Sends November Natural Gas Up to $6.20 at Expiration; Cash Rallies Too
That roar heard throughout the U.S. gas market on Thursday was that of natural gas futures, which went out like a lion Wednesday as yet another shift in the latest weather data led to continued volatility. The prompt month rolled off the board at $6.202, up 32.0 cents on the day. The December contract, which…
China’s Thirst for Natural Gas to Test an Already Stretched Energy Market This Winter
While the prospect of a cold winter is threatening to send an energy market already in crisis spiraling further, efforts in China to secure the supplies it needs to get through the season could make matters worse. China is the world’s largest energy consumer, and it has rapidly transformed into a natural gas-buying behemoth in…
No End in Sight for Surging October Natural Gas Futures, Spot Prices
Natural gas futures on Wednesday rallied for a third consecutive session, again touching a new high for the year as traders fixated on potentially sparse supplies in the United States and Europe ahead of the peak winter demand season. At A Glance: Futures rally a third straight day Storage worries weigh on markets Cash prices…
European Natural Gas Prices Hit Another Record on Russian Supply Concerns — LNG Recap
European natural gas prices again set records Monday as Russian pipeline imports were poised to fall further next month, exacerbating fears that the continent would be short of supplies this winter as storage inventories remain low. Gazprom PJSC booked a fraction of the 15 million cubic meters (MMcm) of firm transportation capacity available through Ukraine…
Natural Gas Forwards Slide as Market Senses Summer’s Swan Song
With the hottest temperatures of the summer expected to soon reside in the market’s rearview, natural gas forwards receded during the Aug. 5-11 trading week, including large markdowns in the western United States, NGI’s Forward Look data show. Discounts of around a dime or more in fixed price prompt-month forwards were the norm for most…
Canada Imported Cheaper, Lower Volumes of U.S. Oil Amid Covid Pandemic
The Covid-19 pandemic cut the volume and value of Canadian oil imports from the United States but did not stop the northbound flows, according to the Canada Energy Regulator (CER) and IHS Markit. Canadian imports from the United States fell 20% year/year in 2020, to 550,000 b/d from 693,000 b/d in 2019 before global oil…
Japan’s Draft Energy Plan Could Squeeze LNG Importers, but U.S. Suppliers ‘Still in the Game’ — LNG Spotlight
Japan’s latest efforts to decarbonize could leave the liquefied natural gas (LNG) sector in the lurch as the nation looks to further reduce the share of fossil fuels in its energy mix by 2030. A draft plan unveiled by the government last month would see the nation reduce the share of fossil fuels in its…
U.S. LNG Exports Hit New High in First Half of 2021
U.S. liquefied natural gas (LNG) exports hit record highs in the first half of 2021 as new capacity ramped to meet growing global demand. LNG exports averaged 9.6 Bcf/d in the first six months of the year, according to the U.S. Energy Information Administration. That is a stark contrast to last year when demand cratered…
U.S. LNG Cargoes Delivered to Brazil Rising as Demand Breaks Records
Liquefied natural gas (LNG) cargoes sourced from the United States are taking up an increasingly important share of Brazil’s booming import market, according to market research firm Kpler. Brazil saw its highest-ever level of LNG in June, when imports clocked in at 657,000 tons. This compared to zero cargoes last June and 184,000 tons received…