North American natural gas futures found a little momentum on Thursday. The May New York Mercantile Exchange contract settled at $1.763/MMBtu, up 4.5 cents on the day. Earlier in the week, the April contract rolled off the board at $1.575. Despite some momentum in cash prices, the Daily Henry Hub price has not surpassed $2/MMBtu…
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Natural Gas Futures Gains Diminished as EIA Reports Storage Draw Above Expectations
Natural gas futures trimmed early gains Thursday following the U.S. Energy Information Administration (EIA) storage report, which outlined a larger-than-anticipated 36 Bcf withdrawal for the week ended March 22. Ahead of the 10:30 a.m. ET release of the latest storage data, May New York Mercantile Exchange natural gas futures were trading 2.0 cents higher day/day…
Mexico Presidential Frontrunner Sheinbaum Promises Dominant CFE, Pemex if Elected
Claudia Sheinbaum, Mexico’s presidential candidate for the ruling Morena Party, seeks continuity for the national energy sector. In a March 18 speech to commemorate the anniversary of state oil company Petróleos Mexicanos (Pemex), Sheinbaum said her administration would follow the path of the Andrés Manuel López Obrador government and continue to prioritize the dominant role…
April Natural Gas Futures Finish Run Down in Volatile Session, Spot Gas Gains
Nymex natural gas futures traded lower ahead of the April contract’s expiration at the close, pressured by a lack of demand and with a storage overhang expected to widen through the shoulder season. At A Glance: April futures expire 4.0 cents down May futures move into lead near unchanged Texas cash prices pull into the…
CFE, Engie Sign Yucatán Pipeline Deal, Extending Reach of Texas Natural Gas in Mexico
Mexican state utility Comisión Federal de Electricidad (CFE) and French multinational Engie SA through its subsidiary Energia Mayakan signed an agreement to double the capacity on the Mayakan natural gas pipeline serving the Yucatán Peninsula. Energía Mayakan will be in charge of the development and construction of the project. The pipeline’s current capacity of 250…
April Natural Gas Futures Head Lower Toward Tuesday’s Expiration; Cash Prices Vary
April Nymex natural gas futures finished their penultimate session in the lead position in the red, with the weather expected to provide a modest bump in demand too late to substantially impact the robust supply. At A Glance: April futures slip 4.4 cents Storage remains an anchor Spot gas mixed by weather The prompt-month contract…
Mexico Natural Gas Production Dips as Pipeline Imports Surge
Mexico’s natural gas production averaged 4.05 Bcf/d in February 2024, compared to 4.29 Bcf/d in the same month a year ago. State oil company Petróleos Mexicanos (Pemex) supplied 3.84 Bcf/d or 95% of the total, down from 4.07 Bcf/d in February 2023, data from upstream regulator Comisión Nacional de Hidrocarburos (CNH) show. Associated gas tied…
Natural Gas Futures Weighed Down by Oversupply Ahead of April Expiry
Continuing to struggle under the weight of excess supply exiting the heating season, natural gas futures fell in early trading Monday. The April Nymex contract, set to expire Tuesday, was off 3.5 cents to $1.624/MMBtu at around 8:40 a.m. ET. May was down 3.5 cents to $1.777. With weak physical prices at Henry Hub this…
Mexico Elections Pit Energy Continuity Against Return to Open Auction Era, Expert Says
Expanding the use of natural gas tapped from Mexico’s abundant reserves would help to reduce the carbon intensity throughout many areas of the economy, said Jeremy Martin, vice president of Energy & Sustainability at the Institute of Americas. During the upcoming elections, however, Mexicans will decide whether they want more of the same or a…
April Natural Gas Futures Pressured by Small Storage Build; Cash Retreats
Natural gas futures lost ground Thursday following the release of U.S. Energy Information Administration (EIA) storage data, which outlined a small injection into inventories for the week ended March 15. At A Glance: Futures shed 1.6 cents Storage up 7 Bcf Cash gains reversed April Nymex natural gas futures settled at $1.683/MMBtu, down 1.6 cents…