Coronavirus

Natural Gas Futures Volatile Ahead of Prompt Month Expiry, but Finish Up Near $9.00

Natural Gas Futures Volatile Ahead of Prompt Month Expiry, but Finish Up Near $9.00

Natural gas futures fluctuated Tuesday as traders assessed an inconsistent production recovery, a mixed domestic weather outlook, ongoing uncertainty in Europe and the looming expiration of the June contract. The June Nymex gas futures contract ultimately settled at $8.796/MMBtu, up 5.2 cents day/day. It had gained 66 cents a day earlier. The July contract ticked…

May 24, 2022
Domestic Oil Production, Demand Climb in Tandem as Summer Travel Nears

Domestic Oil Production, Demand Climb in Tandem as Summer Travel Nears

U.S. producers boosted output back up to the 2022 peak, but domestic demand also accelerated last week and is expected to continue climbing as Americans increase travel during the summer months. The U.S. Energy Information Administration (EIA) said Wednesday production for the period ended May 13 totaled 11.9 million b/d, up by 100,000 b/d from…

May 18, 2022
Crude Prices Seesaw as Covid Surges, Strategic Oil Releases Loom, OPEC Cuts Forecasts in War’s Wake

Crude Prices Seesaw as Covid Surges, Strategic Oil Releases Loom, OPEC Cuts Forecasts in War’s Wake

Russia’s war in Ukraine threatens global crude supplies, but a resurgence of the coronavirus in China is curbing demand as the United States and other countries prepare to release oil from strategic reserves. The result: volatile prices. Brent crude prices on Tuesday climbed more than 6% to about $104/bbl intraday following OPEC Secretary General Mohammad…

April 12, 2022
With Fresh Pandemic Concerns and Spring Temperatures, April Natural Gas Futures Contract Flops on Final Day

With Fresh Pandemic Concerns and Spring Temperatures, April Natural Gas Futures Contract Flops on Final Day

Natural gas futures floundered on Tuesday as the domestic weather outlook shifted increasingly bearish, production ticked up and energy commodities broadly dipped lower amid pandemic flare-ups and the potential for a cease-fire in Ukraine. On its final day as the prompt month, the April Nymex gas futures contract lost 17.2 cents day/day and settled at…

March 29, 2022
North American Natural Gas Marketers Hold Steady Through 2021, NGI Survey Shows

North American Natural Gas Marketers Hold Steady Through 2021, NGI Survey Shows

In a year defined by rebounding energy demand and a strong but vulnerable economic recovery amid coronavirus vaccine campaigns, leading natural gas marketers posted nearly flat sales volumes in 2021, according to NGI’s Top North American Natural Gas Marketers ranking. The 22 natural gas marketers included in the latest survey reported combined sales transactions of…

March 22, 2022
Global Power Outages, High Prices, Extreme Weather and Supply Chain Issues Arose in 2021

Global Power Outages, High Prices, Extreme Weather and Supply Chain Issues Arose in 2021

Extreme weather events, supply shortages, post-Covid-19 demand growth and technical failures gave rise to roughly 4% of the world’s population, roughly 350 million people, experiencing major power outages in 2021, according to IHS Markit researchers. IHS Markit analyst Rama Zakariasaid some of the largest outages occurred in regions with a relatively reliable supply of energy,…

February 8, 2022
Robust Global Oil Demand Forecast Despite Omicron, Though Supply Outlook Mixed

Robust Global Oil Demand Forecast Despite Omicron, Though Supply Outlook Mixed

Even as the Omicron variant of the coronavirus spreads rapidly and threatens to at least stall travel and economic activity, forecasters are sticking to bullish expectations for demand in the year ahead while eyeing potential supply challenges. Brent crude, the international benchmark for oil prices, eclipsed $88/bbl in Wednesday trading, reaching a high last seen…

January 19, 2022
U.S. E&Ps, OFS Players Expected to Reset in 2022, with Eyes on Inflation, Supply Chains

U.S. E&Ps, OFS Players Expected to Reset in 2022, with Eyes on Inflation, Supply Chains

Natural gas and oil producers in the United States are likely to increase their overall capital spending this year as they face a supply chain squeeze, labor issues and higher prices for services, but the mantra to remain disciplined has not changed.

January 18, 2022
California Blueprint Looking to Forge ‘Oil-Free Future,’ Lead Nation in Climate Change Fight

California Blueprint Looking to Forge ‘Oil-Free Future,’ Lead Nation in Climate Change Fight

California Gov. Gavin Newsom unveiled his proposed 2022-2023 budget proposal to continue confronting the state’s “greatest existential threats” – the pandemic and climate change – while bolstering economic growth. Specifically for energy, Newsom’s ambition under his California Blueprint is to create “an oil-free future” for California by reducing the state’s reliance on fossil fuels while…

January 12, 2022
U.S. Crude Production Holds Strong Even as Demand Tapers Amid Holidays, Omicron

U.S. Crude Production Holds Strong Even as Demand Tapers Amid Holidays, Omicron

U.S. oil producers, unfazed by the Omicron variant of the coronavirus and an anticipated lull in demand between the Christmas and New Year holidays, maintained production at a 2021 peak level during the final week of the year. The U.S. Energy Information Administration (EIA) said Wednesday that domestic crude output held at 11.8 million b/d…

January 5, 2022
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