Apache Corp. is dropping all of its Permian Basin rigs and slicing its dividend by 90%, joining a growing list of oil and natural gas operators responding to the collapse in oil prices and the devastating coronavirus, which is gripping the country.
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More Volatility for Natural Gas Futures as Markets Weigh Coronavirus Impacts
Volatility continued in the natural gas futures market Thursday as traders were left to weigh the inherent uncertainty of the escalating coronavirus pandemic against a fundamentally more bullish supply outlook. The April Nymex contract traded as high as $1.883/MMBtu and as low as $1.750 before going on to settle at $1.841, down 3.7 cents.
Natural Gas Futures Pull Back Early as Weather Outlook Mostly Unchanged
Coming off a furious rally the previous session, natural gas futures pulled back early Wednesday as traders were left to ponder the potential effects of mild weather and coronavirus-related demand shocks. The April Nymex contract was off 1.0 cent to $1.926/MMBtu shortly after 8:40 a.m. ET.
NGI The Weekly Gas Market Report
Natural Gas, Power Utilities Brace for Coronavirus Spread
Natural gas and electric power utilities across the United States braced for the continued spread of the Covid-19 novel coronavirus disease on Wednesday, as the World Health Organization officially called the disease a pandemic for the first time and the number of documented cases in the United States surpassed 1,000.
Natural Gas Futures Continue to Rally Early as Supply Cuts Expected After Oil Rout
Riding the bullish momentum from the previous session, natural gas futures continued to rally early Tuesday as traders weighed the supply impact from much lower crude prices. The April Nymex contract was trading 6.9 cents higher at $1.847/MMBtu at around 8:30 a.m. ET.
NGI The Weekly Gas Market Report
Coronavirus, Oil Price War Worsen Already Shaky Outlook for Mexico’s Pemex
Simultaneous supply and demand shocks currently wreaking havoc on global oil markets have worsened an already precarious outlook for Mexico’s national oil company, Petróleos Mexicanos (Pemex).
NGI The Weekly Gas Market Report
Coronavirus Wreaks Havoc on Markets; Enverus More Optimistic on Oil Demand
An oil price war launched by the Organization of the Petroleum Exporting Countries (OPEC) and Russia battered crude oil and stocks Monday, but the long-term ramifications may not be all doom and gloom for natural gas, especially in the Permian Basin, according to analysts.
LNG Recap: Oil’s Tailspin Seen Having Varying Impacts on Global NatGas Trade
As oil prices plunged on Monday and sent global energy markets into turmoil, plenty of implications were seen for liquefied natural gas (LNG), including the possibility of higher prices for U.S. buyers and relief for offtakers overseas.
NGI The Weekly Gas Market Report
U.S. Upstream Operators Like to Cut Activity, Capex as Markets, Crude Prices Plummet
Investors fled stocks early Monday and crude prices plunged by double-digits as a price war between Russia and the Saudi-led oil cartel raged and the uncertainty of the coronavirus spooked global markets.
U.S. Upstream Facing ‘Serious’ Fallout as Markets Shudder, Crude Prices Plunge
Investors fled stocks early Monday and crude prices plunged by double-digits as a price war between Russia and the Saudi-led oil cartel raged and the uncertainty of the coronavirus spooked global markets.