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Mexico Natural Gas Market Spotlight: Domestic Production Up as U.S. Prices Hit $4.20

Mexico Natural Gas Market Spotlight: Domestic Production Up as U.S. Prices Hit $4.20

Mexico’s natural gas production is helping to meet national demand as U.S. prices continue to soar this summer. “Mexican dry gas output is ramping up again,” WoodMackenzie analyst Richardo Falcón told NGI’s Mexico GPI. Since July 21, dry gas production has averaged nearly 2.5 Bcf/d, up 0.24 Bcf/d above average levels seen for the past…

August 5, 2021
September Natural Gas Prices Retreat in Face of Dangerously Low Storage

September Natural Gas Prices Retreat in Face of Dangerously Low Storage

The latest round of government storage data was about as bullish as it could be, but sellers came into the fold once weather models showed the upcoming heat being a little less intense. The September Nymex gas futures contract settled Thursday at $4.140, off 1.8 cents day/day. October slipped 1.5 cents to $4.148. Spot gas…

August 5, 2021
Northeast Forward Markets Up Sharply Amid Lack of E&P Response to Higher Natural Gas Prices

Northeast Forward Markets Up Sharply Amid Lack of E&P Response to Higher Natural Gas Prices

Natural gas forward markets rebounded sharply for the trading period ending Aug. 4 as widespread sweltering heat set to return sounded the alarm once again that U.S. storage inventories are on pace to fall uncomfortably short ahead of winter. September forward prices averaged 20.0 cents higher for the July 29-Aug. 4 period, according to NGI’s…

August 5, 2021
Natural Gas Futures Hit Fresh Highs Ahead of Expected Small Storage Build

Natural Gas Futures Hit Fresh Highs Ahead of Expected Small Storage Build

After two solid days in the black, natural gas futures prices reached new heights on Wednesday as production continued to decline, and hot weather remained firmly in next week’s forecast. The September Nymex gas futures contract hit a $4.205 intraday high before settling at $4.158, up 13.1 cents from Tuesday’s close. At A Glance: U.S.…

August 5, 2021
Atlantic Hurricane Season Looking to Reignite, Impact Natural Gas Production, Says NOAA

Atlantic Hurricane Season Looking to Reignite, Impact Natural Gas Production, Says NOAA

Conditions are ripe for another above-average hurricane season that could potentially send ripples throughout natural gas production in the Gulf of Mexico (GOM) over the next three months, the National Oceanic and Atmospheric Administration (NOAA) said in a new forecast. Should the NOAA’s Climate Prediction Center forecast bear out, it would mark the sixth consecutive…

August 5, 2021
LNG 101: Could New Ways to Sell American Natural Gas Give Rise to Second-Wave Export Projects?

LNG 101: Could New Ways to Sell American Natural Gas Give Rise to Second-Wave Export Projects?

U.S. liquefied natural gas (LNG) developers are going to greater lengths to attract customers, setting the stage for American supplies to increasingly be tied to foreign benchmarks and testing traditional commercial models with new agreements that could make project financing even harder to come by.  The question is, why?  Why would U.S. LNG buyers purchase…

August 5, 2021
September Natural Gas Prices Retract Early Gains Despite EIA’s ‘Uncomfortably Tight’ 13 Bcf Injection

September Natural Gas Prices Retract Early Gains Despite EIA’s ‘Uncomfortably Tight’ 13 Bcf Injection

Natural gas futures overcame an early slide after the U.S. Energy Information Administration (EIA) reported a modest 13 Bcf injection into storage inventories for the week ending July 30. After hitting a $4.116/MMBtu low, the September Nymex gas futures contract bounced back to $4.199 as the storage figure crossed trading desks. However, traders failed to…

August 5, 2021
U.S. Petroleum Demand Holds Strong, as Crude Production Flattens, EIA Says

U.S. Petroleum Demand Holds Strong, as Crude Production Flattens, EIA Says

Demand for U.S. petroleum increased last week, while production held well below pre-pandemic levels and continued a summer-long trend, the U.S. Energy Information Administration (EIA) said Wednesday.  Meanwhile, U.S. commercial oil inventories in the week ended July 30 — excluding those in the Strategic Petroleum Reserve – increased by 3.6 million bbl from the previous…

August 5, 2021
September Natural Gas Prices Lose Steam Ahead of Modest EIA Storage Build

September Natural Gas Prices Lose Steam Ahead of Modest EIA Storage Build

After a steep 13-cent rally during the prior trading session, natural gas futures pedaled back a bit early Thursday as major weather models showed slightly less heat in mid-August. The September Nymex gas futures contract was trading two-tenths of a cent lower at $4.156 at 8:45 a.m. ET. Despite the loss of 2-3 cooling degree…

August 5, 2021
September Natural Gas Prices Hit $4.20 Ahead of Potentially Lowest Injection of Season

September Natural Gas Prices Hit $4.20 Ahead of Potentially Lowest Injection of Season

After two solid days in the black, natural gas futures prices reached new heights on Wednesday as production continued to decline, and hot weather remained firmly in next week’s forecast. The September Nymex gas futures contract hit a $4.205 intraday high before settling at $4.158, up 13.1 cents from Tuesday’s close. At A Glance: Next…

August 4, 2021
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