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Volatility Amid Freeport LNG Outage Concerns Sees Natural Gas Futures Pare Losses

Volatility Amid Freeport LNG Outage Concerns Sees Natural Gas Futures Pare Losses

Coming off a huge sell-off in the previous session, natural gas futures recovered some of their losses in early trading Friday as the Freeport liquefied natural gas (LNG) terminal outage continued to roil the market ahead of the extended July Fourth holiday weekend. After plummeting $1.074 on Thursday, the August Nymex contract was up 45.9…

July 1, 2022
In Historic Bloodbath, Natural Gas Futures Drop $1-Plus on Storage, Freeport News

In Historic Bloodbath, Natural Gas Futures Drop $1-Plus on Storage, Freeport News

Natural gas futures took one (actually two) on the chin Thursday as a larger-than-expected storage injection and an update regarding the Freeport liquefied natural gas (LNG) outage sent prices tumbling to levels not seen in months. The August Nymex futures contract plummeted $1.074 to $5.424/MMBtu. September lost $1.101 cents to land at $5.392. Spot gas…

June 30, 2022
North American Natural Gas Prices Continue Slide; Traders Uncertain on New Rules – Mexico Spotlight

North American Natural Gas Prices Continue Slide; Traders Uncertain on New Rules – Mexico Spotlight

North American natural gas prices lost more than three dollars in June after an explosion at the Freeport liquefied natural gas (LNG) plant early in the month knocked the facility offline. August took over as the front month contract for New York Mercantile Exchange futures this week and prices continued to be pressured downwards. On…

June 30, 2022
Sell-Off in Natural Gas Forwards Fueled by Freeport LNG Outage as Bears Take Control

Sell-Off in Natural Gas Forwards Fueled by Freeport LNG Outage as Bears Take Control

As demand destruction from the Freeport liquefied natural gas (LNG) terminal outage continued to loosen balances, strong summer heat failed to prevent natural gas forwards from falling during the June 23-29 trading period. Fixed prices for August delivery at benchmark Henry Hub tumbled 37.4 cents during the period to average $6.499/MMBtu, NGI’s Forward Look data…

June 30, 2022
OPEC-Plus Vows to Boost Crude Production, Offering Potential Respite for Soaring Prices

OPEC-Plus Vows to Boost Crude Production, Offering Potential Respite for Soaring Prices

The oil-rich consortium of countries known as OPEC-plus on Thursday affirmed its intentions, first signaled earlier in June, to ramp up production in July and August. It is targeting output growth of 648,000 b/d both months.  If the cartel could meet its goals, the group’s average crude generation would climb to nearly 44 million b/d…

June 30, 2022
EIA Storage Injection Sends Natural Gas Futures Tumbling Under $6, Confirms Looser Balances

EIA Storage Injection Sends Natural Gas Futures Tumbling Under $6, Confirms Looser Balances

The Energy Information Administration (EIA) reported another larger-than-expected 82 Bcf injection into storage, confirming looser balances as a result of an explosion at the Freeport liquefied natural gas export terminal. Nymex futures, down about a nickel early in Thursday’s session, quickly plunged after the latest EIA data was published. The August contract was trading near…

June 30, 2022
Gulf Coast Oil Exports Approach Record Territory, with More Growth to Come

Gulf Coast Oil Exports Approach Record Territory, with More Growth to Come

Crude oil export volumes from the Gulf Coast should hit an all-time high in the second quarter, but that record shouldn’t last long, according to Rystad Energy. Citing continued “depressed” U.S. oil refining capacity against pre-Covid levels, tied to refinery outages and releases from the federal Strategic Petroleum Reserve (SPR), Rystad’s shale research head Artem…

June 30, 2022
August Natural Gas Called Lower Ahead of EIA Report; Forecasts Seen Slightly Hotter

August Natural Gas Called Lower Ahead of EIA Report; Forecasts Seen Slightly Hotter

Natural gas futures were trading slightly lower early Thursday as the market prepared to examine the latest government inventory report for further signs of balance impacts from downtime at a major U.S. export terminal.  The August Nymex contract was off 6.9 cents to $6.429/MMBtu at around 8:50 a.m. ET. Surveys ahead of the Energy Information…

June 30, 2022
August Natural Gas Futures Make Soft Landing at Front of Curve Despite Bullish Backdrop

August Natural Gas Futures Make Soft Landing at Front of Curve Despite Bullish Backdrop

Nymex natural gas futures, led now by the August contract, failed to hold onto early price gains amid weakening demand ahead of the holiday weekend. The August Nymex futures contract settled at $6.498/MMBtu, down 7.2 cents on the day. September futures slipped 6.4 cents to $6.493. At A Glance: Models still point to hot July…

June 29, 2022
U.S. Oil Production Hits New 2022 Peak, but More Runway Ahead for Growth

U.S. Oil Production Hits New 2022 Peak, but More Runway Ahead for Growth

Domestic crude output reached a new high for the year as producers continue to gradually ramp up to meet summer demand, the U.S. Energy Information Administration (EIA) reported Wednesday. Production climbed to 12.1 million b/d for the week ended June 24, up 100,000 b/d week/week, according to the EIA’s Weekly Petroleum Status Report (WSPR). Exploration…

June 29, 2022