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July Temps ‘Rather Bullish’ as Natural Gas Futures Extend Gains

July Temps ‘Rather Bullish’ as Natural Gas Futures Extend Gains

A toasty temperature outlook for the first third of July helped natural gas futures extend their recent gains in early trading Tuesday. The expiring July Nymex contract was up 15.3 cents to $6.654/MMBtu as of around 8:50 a.m. ET, adding to a 28.1-cent rally from the previous session. August was up 14.1 cents to $6.687.…

June 28, 2022
G7 Nations Look to Cap Russian Oil Prices; U.S. Renews Vow to Help Quench Europe’s LNG Thirst

G7 Nations Look to Cap Russian Oil Prices; U.S. Renews Vow to Help Quench Europe’s LNG Thirst

The Group of Seven (G7) nations on Monday pursued new sanctions, notably including a potential price cap on Russian oil, in an effort to cripple the Kremlin’s vital energy complex and hamstring its ability to finance the war in Ukraine. The United States, as part of the three-day G7 gathering that started Sunday, also vowed…

June 27, 2022
EU Approves 80% Natural Gas Storage Plan as Markets Kick Off Another ‘Volatile’ Week

EU Approves 80% Natural Gas Storage Plan as Markets Kick Off Another ‘Volatile’ Week

After slightly cooling on an apparent price correction, European energy markets started the week with another leap upward as the European Union (EU) formalized its winter natural gas storage plan. The EU countries officially ratified a plan Monday to reach 80% of natural gas storage capacity available among the 27-country bloc by the winter heating…

June 27, 2022
July Baseload Natural Gas Trending Dramatically Lower on Freeport Outage, Improving Balances

July Baseload Natural Gas Trending Dramatically Lower on Freeport Outage, Improving Balances

In a huge reversal from last month, natural gas prices for July baseload are trending sharply lower amid weaker liquefied natural gas (LNG) demand stemming from an explosion at the Freeport export terminal. Forecasts for less extreme heat than what has been seen so far this month also were weighing on July prices, according to…

June 27, 2022
Chevron, Egypt Pondering Increased Natural Gas Exports

Chevron, Egypt Pondering Increased Natural Gas Exports

As Egypt’s role as an option for sending more natural gas to Europe solidifies, the country’s petroleum ministry has announced a new tentative partnership with Chevron Corp. to explore ways to boost its liquefied natural gas (LNG) exports. In a memorandum of understanding (MOU) announced by Egypt’s Ministry of Oil and Mineral Resources, Chevron and…

June 27, 2022
Higher Production, Weaker LNG Export Volumes Seen Pressuring Natural Gas Futures

Higher Production, Weaker LNG Export Volumes Seen Pressuring Natural Gas Futures

Bearish-trending fundamentals data over the weekend kept the pressure on natural gas futures in early trading Monday. The expiring July Nymex contract, scheduled to roll off the board Tuesday, was off 3.5 cents to $6.185/MMBtu at around 8:45 a.m. ET. August was down 2.8 cents to $6.253. Prices have been facing downward pressure from a…

June 27, 2022
Natural Gas Forwards Tumble as Freeport LNG Outage Loosens Summer Balances

Natural Gas Forwards Tumble as Freeport LNG Outage Loosens Summer Balances

As summer heat failed to provide the spark needed to sustain higher prices, lost demand from the Freeport liquefied natural gas (LNG) terminal outage continued to erode value in the natural gas forwards market during the June 16-22 trading period. According to NGI’s Forward Look data, benchmark Henry Hub fell 56.2 cents week/week to average…

June 24, 2022
Supply Constraints Create Step Change Up for European Gas, Asian LNG

Supply Constraints Create Step Change Up for European Gas, Asian LNG

Russian pipe gas flows to Europe fell again and will likely remain heavily curtailed over the coming weeks. This was a key driver behind price rises at the ICIS TTF which in turn lifted the ICIS East Asia Index (EAX) back to prices last seen in March.

June 24, 2022
Shunning Russia, Western Europe Reviving Offshore Natural Gas Projects

Shunning Russia, Western Europe Reviving Offshore Natural Gas Projects

Germany, The Netherlands, Germany and the UK have each reversed decisions to decrease oil and natural gas development in the wake of Russia’s war on Ukraine, supporting the need to reduce dependence on fossil fuel imports. Russia’s Gazprom PJSC in late May said it planned to discontinue supplying the Netherlands with gas after Dutch wholesaler…

June 24, 2022
Natural Gas Futures Pare Losses as Traders Continue Assessing Balances Post-Freeport LNG Outage

Natural Gas Futures Pare Losses as Traders Continue Assessing Balances Post-Freeport LNG Outage

As traders continued to assess the implications of a bearish miss in the latest government inventory data, particularly in light of missing demand from downtime at a major U.S. export terminal, natural gas futures pared some of their recent losses early Friday. Coming off a 61.9-cent walloping in the previous session, the July Nymex contract…

June 24, 2022