Wood Mackenzie

Natural gas futures forged ahead on Monday, bolstered by forecasts for peak summer heat and robust cooling demand. The August Nymex gas futures contract settled at $2.669/MMBtu, up 8.7 cents day/day. September rose 7.1 cents to $2.641. At A Glance: Prompt month gains 8.7 cents Cooling demand set to mount Production recovers in July  NGI’s…

The global natural gas and oil exploration sector had its strongest year in 2022 in a decade as national oil companies and majors focused on taking advantage of what might be a short-term window of opportunity. The sector created some $33 billion of value at $60/bbl Brent prices last year, according to a report from…

The long-planned Alaska liquefied natural gas (LNG) project could competitively rival both foreign and Gulf Coast competitors with deliveries to Asia, according to a new cost analysis by Wood Mackenzie. Alaska LNG could deliver super-chilled gas to Japan with a cost of supply (CoS) of $6.70/MMBtu, under the conditions studied by the consultancy. The latest…

Though still early for a full assessment of former Hurricane Ida, natural gas futures traders on Monday focused squarely on the destruction of natural gas demand brought about by the catastrophic Category 4 storm. The October Nymex gas futures contract, on its first day in the prompt position, settled at $4.305, off 8.3 cents from…

Big fluctuations continued along the Nymex natural gas futures curve early Monday as traders wrestled with hotter shifts in the latest weather models and a step up in production. The September contract, which rolls off the board later this week, settled at $3.945, up 9.4 cents on the day. October also picked up 9.4 cents…

After another run toward $4.200/MMBtu last week, natural gas futures took a nosedive on Monday as long-range weather forecasts continued to cool while liquefied natural gas (LNG) demand remained well off recent highs. The September Nymex gas futures contract settled at $4.060, off 8.0 cents from Friday’s close. October dropped 7.9 cents to $4.075. Spot…

Natural gas futures traded both sides of the $4.00/MMBtu mark on Monday as bullish weather forecasts and persistently sagging storage levels quickly reversed the losses from late last week. The September Nymex gas futures contract hit a $4.042 intraday high but ultimately finished the day at $3.935, up only 2.1 cents from Friday’s close. Spot…

Global liquefied natural gas (LNG) buyers, hammered by high spot prices in Asia, are increasingly looking to short-term “bridge” contracts to ensure ample supply until demand is expected to cool down later this decade, according to an analysis by Wood Mackenzie. Asian spot prices are hovering around $12/MMBtu for June and July delivery as demand…

Natural gas futures advanced for a second consecutive session on Monday, as traders mulled weather-driven demand potential, continued strong liquefied natural gas (LNG) volumes and the potential for light storage levels moving through the summer months.   The June Nymex contract advanced 3.5 cents day/day and settled at $2.966/MMBtu. July rose 3.6 cents to $3.014. Spot…