With mild weather continuing unabated across large swaths of the United States during the Jan. 12-17 period, natural gas forward prices tumbled, according to NGI’s Forward Look. The largest price declines were seen on the West Coast, where a much needed break from the torrential downpours was set to occur. AccuWeather said the pause in…
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Crestwood Says Harsh Winter Weather, Shut-ins to Impact 4Q Earnings
Crestwood Equity Partners LP is expecting a one-off hit to its fourth quarter earnings because of extreme weather that caused well freeze-offs and production shut-ins across multiple Lower 48 basins, management said Wednesday. The harsh winter weather “adversely impacted volumes and well-connect activity across Crestwood’s gathering and processing assets during the quarter,” the Houston-based midstream…
Gazprom Keeps Natural Gas Flowing Through Ukraine, Pushing TTF Lower – LNG Recap
European natural gas prices declined on Monday, when supply concerns were eased by Gazprom PJSC, which did not reduce the supplies it’s shipping through Ukraine after warning of cuts last week. The January contract fell by 1% after Gazprom said conditions had been met to keep moving gas at current levels into Ukraine, one of…
Natural Gas Futures Extend Rally as Wintry Weather Nears; Spot Prices Surge
Natural gas futures flew higher on Monday, bolstered by forecasts for substantially colder weather and stronger heating demand. The December Nymex contract gained 54.4 cents day/day to settle at $6.944/MMBtu, adding to a 42.5 cent rally in Friday’s session. January climbed 49.0 cents to $7.244. At A Glance: Forecasts add ‘hefty’ dose of demand Potential…
Natural Gas Futures Tumble Below Key $6.50 Threshold on Improving Winter Supply Outlook
Could a change in natural gas trading behavior be amiss? Bears on Monday managed to take out a key psychological level of support amid robust supply and a steadily improving storage picture. The November Nymex gas futures contract settled at $6.435/MMBtu, off 31.3 cents from Friday’s close. December futures slid 26.3 cents to $6.784. At…
WeatherBELL’s Bastardi Sees Active End to Hurricane Season, Cold December
Although current climate patterns portend a rather mild winter overall this year, historical comparisons indicate that December could be quite cold, according to WeatherBELL Analytics LLC meteorologist Joe Bastardi. Speaking at the LDC Gas Forums Mid-Continent show in Chicago last week, Bastardi said October weather often is a key indicator of how cold it may…
September Natural Gas Expires Higher on Lingering Heat, Tight Balances; Cash Recovers
After an early dip into the red, natural gas futures swung higher Monday as weather models continued to show bursts of heat over the next couple of weeks. Volatility remained front and center, however, with big gains nearly erased by the close of the session. As the dust settled, the September Nymex gas futures contract…
Natural Gas Futures Slip, but Double-Digit Prices Seen Likely Ahead of Winter
Natural gas futures fizzled midweek but held comfortably above $9 as bulls remained largely in control of the market. The September Nymex gas futures contract settled Wednesday at $9.244/MMBtu, off 8.5 cents day/day. October futures slid 8.3 cents to $9.228. At A Glance: Bullish supply/demand balances intact Storage injection seen below-average Spot gas prices continue…
Bulls Parade Past $9 as Production Dips Again; Spot Gas Surges on Lingering Heat
After a solid recovery throughout Monday’s session, natural gas futures extended their streak Tuesday as maintenance activities took another toll on production. The September Nymex gas futures contract soared 60.1 cents day/day to settle at $9.329/MMBtu. October futures climbed 59.9 cents to $9.311. Spot gas prices also surged as power burns remain elevated despite cooler…
Natural Gas Futures Extend Losses on Returning Supply, Cooling Temperatures
Natural gas futures slipped early Monday as production returned to near all-time highs and weather models cooled a bit for late August. Though bulls stepped in to buy off session lows, the September Nymex gas futures contract settled at $8.728/MMBtu, off 4.0 cents from Friday’s close. October futures fell 3.2 cents to $8.712. Spot gas…