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December Natural Gas Steady Early as Forecasts Remain Bearish

December Natural Gas Steady Early as Forecasts Remain Bearish

Coming off a dramatic sell-off in the previous session, natural gas futures held their ground early Tuesday, although bearish themes continued in the latest forecasts. The December Nymex contract was up 1.2 cents to $2.709/MMBtu at around 8:45 a.m. ET. The temperature outlook to start the winter heating season has been thoroughly disappointing from the…

November 17, 2020
December Natural Gas Futures Plummet on Fading Weather Demand; Spot Prices Eke Out Gain

December Natural Gas Futures Plummet on Fading Weather Demand; Spot Prices Eke Out Gain

Despite robust export demand, bearish weather patterns and increased production weighed down natural gas futures on Monday. The December Nymex contract dropped 29.8 cents day/day and settled at $2.697/MMBtu to start the trading week. January fell 25.8 cents to $2.864. NGI’s Spot Gas National Avg. rose 3.0 cents to $2.630, as demand in the Northeast…

November 16, 2020
ICE Reports Record Open Interest in Environmental Risk Tools

ICE Reports Record Open Interest in Environmental Risk Tools

With a growing commitment among energy companies to tackle climate change, open interest across Intercontinental Exchange Inc.’s (ICE) environmental complex reached a record high last week. The environmental complex, which includes futures and options connected to ICE’s European and California Carbon allowances, Regional Greenhouse Gas Initiative and renewable energy credits, hit record open interest of…

November 16, 2020
EIA Says Natural Gas Storage Closes Traditional Injection Season Near Record Levels

EIA Says Natural Gas Storage Closes Traditional Injection Season Near Record Levels

Lower 48 working natural gas in storage finished the traditional injection season — April 1–Oct. 31 — at 3,920 Bcf, near the record-high of 4,047 Bcf reached in 2016, the U.S. Energy Information Administration (EIA) said Monday. Storage has run high this fall in part because of diminished demand last spring amid lockdown orders put…

November 16, 2020
Natural Gas Tumbles on Bearish Forecasts as ‘Old Man Winter Remains Tardy’

Natural Gas Tumbles on Bearish Forecasts as ‘Old Man Winter Remains Tardy’

Natural gas futures traded sharply lower early Monday as the latest forecasts lowered weather-driven demand expectations and signaled that mild weather could stretch into early December. The December Nymex contract was off 15.1 cents to $2.844/MMBtu at around 8:40 a.m. ET. Weather data was “decidedly” bearish trending over the weekend, with forecast demand dropping compared…

November 16, 2020
Weekly Natural Gas Prices Mount Comeback on Northern Cold Blast

Weekly Natural Gas Prices Mount Comeback on Northern Cold Blast

Weekly cash prices rebounded from the nosedive of a week earlier, lifted by a round of winter weather in the Northern Plains that gradually pushed eastward and galvanized heating demand over swaths of the Lower 48. NGI’s Weekly Spot Gas National Avg. for the Nov. 9-13 period climbed 12.5 cents to $2.510. The week before,…

November 13, 2020
December Natural Gas Futures Finish in Green Despite Storage Injection

December Natural Gas Futures Finish in Green Despite Storage Injection

Further gradual improvement in weather-driven demand expectations and continued strength in export levels offset a bearish storage report and boosted natural gas futures on Friday.   The December Nymex contract gained 1.9 cents day/day and settled at $2.995/MMBtu. It had climbed as much as 10 cents higher in morning trading. January rose 2.8 cents to $3.122.…

November 13, 2020
Natural Gas Forward Prices Rally as LNG Demand Sets New High, Cold Blast Sweeps East

Natural Gas Forward Prices Rally as LNG Demand Sets New High, Cold Blast Sweeps East

For all the intraweek volatility in the natural gas forward markets, prices ultimately capped the Nov. 5-11 period moderately higher as chilly weather crept back into the long-range forecast, according to NGI’s Forward Look. Although it’s still unclear whether the cold lasts, Appalachia markets rallied sharply as the expected drop in temperatures coincided with a…

November 13, 2020
Former Alaska Governor’s New Company Aiming to Move North Slope LNG to Market

Former Alaska Governor’s New Company Aiming to Move North Slope LNG to Market

Former Alaska Gov. Bill Walker is spearheading a new company to build a “large volume” pipeline to export North Slope natural gas, according to state documents. According to news media reports, Alaska Gasline & LNG LLC is working to buy the state’s proposed liquefied natural gas (LNG) project. The state-owned Alaska Gasline Development Corp. (AGDC)…

November 13, 2020
Cheniere Doubling Down to Cut LNG Environmental Footprint as Stakeholder Pressure Grows

Cheniere Doubling Down to Cut LNG Environmental Footprint as Stakeholder Pressure Grows

Cheniere Energy Inc., the largest liquefied natural gas (LNG) exporter in the United States and one of the largest gas consumers, is “methodically reviewing” its business to further cut its environmental footprint as it faces questions about its role in the global energy transition.  The management team spent considerable time during last week’s third quarter…

November 13, 2020