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Deep Plunge for November Natural Gas After Barge Incident Casts Doubt on LNG Recovery

Deep Plunge for November Natural Gas After Barge Incident Casts Doubt on LNG Recovery

BREAKING: The U.S. EIA reported a surprising low-side 46 Bcf injection into natural gas storage inventories for the week ending Oct. 9 Barge one of three obstructions blocking deep draft traffic in Calcasieu Ship Channel LNG recovery uncertainty, warmer weather drive massive loss for November natural gas Natural gas futures tanked Wednesday as news of…

October 15, 2020
Natural Gas Futures Trim Early Gains Despite Sharply Lower-Than-Expected Storage Build

Natural Gas Futures Trim Early Gains Despite Sharply Lower-Than-Expected Storage Build

The Energy Information Administration (EIA) reported a surprising low-side 46 Bcf injection into natural gas storage inventories for the week ending Oct. 9. The EIA figure was around 10 Bcf below consensus, and Nymex futures, which surged early Thursday, climbed another couple of notches. The November contract was trading at $2.792/MMBtu in the minutes leading…

October 15, 2020
Prospect of Rising Sabine Pass Volumes Boosts Natural Gas Futures Early

Prospect of Rising Sabine Pass Volumes Boosts Natural Gas Futures Early

After a steep sell-off in the previous session, natural gas futures recovered a large chunk of their recent losses in early trading Thursday on the prospect of further increases in export demand. The November Nymex contract was up 12.9 cents to $2.765/MMBtu at around 8:40 a.m. ET. Analysts at EBW Analytics Group attributed the gains…

October 15, 2020
LNG Recovery Doubts, Warmer Weather Drag Natural Gas Futures Prices 20-Plus Cents Lower

LNG Recovery Doubts, Warmer Weather Drag Natural Gas Futures Prices 20-Plus Cents Lower

Natural gas futures tanked Wednesday as news of a sunken barge in the Calcasieu Ship Channel squashed hopes for a quick resumption in full exports from the Cameron liquefied natural gas (LNG) facility. Another warmer shift in the latest weather data and higher production also worked in favor of bears. The November Nymex contract settled…

October 14, 2020
Natural Gas Prices Key in Determining Fate of Asia’s Energy Mix, EIA Says

Natural Gas Prices Key in Determining Fate of Asia’s Energy Mix, EIA Says

Natural gas prices and renewable energy capital costs will determine the future electric generation mix in Asia, the continent that’s expected to account for half of the world’s energy consumption by 2050, according to the Energy Information Administration (EIA). EIA released its projections for the Asian energy market Wednesday as part of its updated International…

October 14, 2020
Natural Gas Traders Take Breather, Await Clearer Weather Picture

Natural Gas Traders Take Breather, Await Clearer Weather Picture

Weather models struggling with chillier outlook Production higher as offshore output returns following Hurricane Delta Cash prices mixed as heat continues out West Natural gas futures headed lower Tuesday as morning weather models shifted warmer. Production moved considerably higher as well, sending the November Nymex gas futures contract down 2.6 cents to $2.855. December slipped…

October 14, 2020
Analysts Monitoring LNG Setback in Louisiana as Natural Gas Futures Tumble

Analysts Monitoring LNG Setback in Louisiana as Natural Gas Futures Tumble

A warming weather outlook and reports of a possible setback in the timeline for recovery in exports out of Louisiana had natural gas futures trading sharply lower early Wednesday. The November Nymex contract was down 19.0 cents to $2.665/MMBtu at around 8:50 a.m. ET. Analysts at EBW Analytics Group attributed the move lower to reports…

October 14, 2020
Natural Gas Futures Retreat on Flip-Flopping Weather Forecasts, Higher Production; Cash Mixed

Natural Gas Futures Retreat on Flip-Flopping Weather Forecasts, Higher Production; Cash Mixed

Natural gas futures headed lower Tuesday as morning weather models shifted warmer. Production moved considerably higher as well, sending the November Nymex gas futures contract down 2.6 cents to $2.855. December slipped 2.4 cents to $3.247. Spot gas prices were mixed amid cooler weather in the central and eastern United States and continued heat out…

October 13, 2020
Monthly Oil Supply Disruptions Surge on Coronavirus and Middle East Tumult, EIA Says

Monthly Oil Supply Disruptions Surge on Coronavirus and Middle East Tumult, EIA Says

Political instability, sanctions, hurricanes and the coronavirus pandemic intersected and sent oil production outages soaring this year, new federal data show. Disruptions to crude oil and condensate production were up among members of both the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC countries through September, the U.S. Energy Information Administration (EIA) said Tuesday.…

October 13, 2020
U.S. Home-Bound Workforce Sharply Impacting Transportation Fuel Outlook, Says OPEC

U.S. Home-Bound Workforce Sharply Impacting Transportation Fuel Outlook, Says OPEC

Energy demand contraction triggered by Covid-19 lockdown measures has drastically reduced U.S. fuel consumption, but a cold winter could boost heating oil consumption as more people continue to work from home, the Organization of the Petroleum Exporting Countries (OPEC) said Tuesday. The oil cartel issued its global winter forecast in the latest Monthly Oil Market…

October 13, 2020