The American Petroleum Institute (API) said Tuesday Executive Vice President Marty Durbin will step down on Jan. 31 after nearly a decade of representing the oil and natural gas industry.
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More Intense Cold Seen Delayed Until New Year’s Day; January Natural Gas Called Lower
January natural gas futures were trading 15.4 cents lower at $3.673/MMBtu shortly before 9 a.m. ET Monday as forecasters pointed to weekend guidance showing more intense cold unlikely to arrive until around New Year’s Day at the earliest.
NatGas Storage Deficits, Price Volatility May Linger Past March as Coal ‘Safety Net’ Diminished
Except under the lowest demand scenarios, natural gas inventories are on track to exit March below comparable year-ago and five-year-average levels, making shifts in weather all-important at a time of diminished gas-to-coal switching potential in the power stack, according to analysts.
NatGas Futures Extend Steep Losses on Bearish December Weather Outlook
Just one trading day after January natural gas prices took out critical support at the $4 level, the prompt month on Monday set its eyes on $3.50 as weather outlooks indicated it could be after the new year begins before any truly cold air returns to the Lower 48.
Mild Set-up Through New Year Pressures Natural Gas Futures, Spot Prices
Just one trading day after January natural gas prices took out critical support at the $4 level, the prompt month on Monday set its eyes on $3.50 as weather outlooks indicated it could be after the new year begins before any truly cold air returns to the Lower 48. The Nymex January futures contract settled at $3.528, down 29.9 cents on the day. February tumbled 30 cents to $3.453, and March dropped 29.8 cents to $3.308.
Long-Range Forecasts Seen Trending Bearish as Natural Gas Dips Below $4
January natural gas futures were down 17.8 cents to $3.946/MMBtu shortly before 9 a.m. ET Friday, with prices dipping below the $4 mark as forecasters pointed to patterns showing milder temperatures sticking around in the East into late December.
Alaska Oil, Gas Lease Sale Draws $1.53M in Bids
The Interior Department’s Bureau of Land Management (BLM) received $1.53 million in bids on Wednesday from an oil and natural gas lease sale in the National Petroleum Reserve in Alaska (NPRA).
Warm-Up Sees NatGas Forward Prices Dip Except in Constrained Northeast
Natural gas forward prices generally moved lower for the Dec. 6-12 period as milder weather finally moved across the country, slashing demand from earlier highs. January prices were down an average 20 cents, while the balance of winter (February-March) was down an average 12 cents, according to NGI’s Forward Look. New England pricing hubs, however, bucked the downtrend as ongoing pipeline constraints in the region continue to leave those markets vulnerable to price spikes.
Winter Natural Gas Prices Slashed as Long-Range Forecasts Trend Warmer; Spot Gas Tanks
Natural gas futures prices came crashing down Friday as weather models all trended warmer for the rest of December, easing some fears about adequate supplies this winter. The Nymex January futures contract plunged 29.7 cents to $3.827, the first sub-$4 settle for the January contract since Nov. 12. February dropped 27.4 cents to $3.753, and March tumbled 25 cents to $3.606.
Arrival of More Moderate Temps Sends Weekly NatGas Physical, Futures Prices Tumbling
Natural gas prices plummeted during the Dec. 10-14 week as demand retreated with milder weather moving across the United States. Steep losses of 20-30 cents were seen across much of the country, with far more dramatic declines in the West, Rockies and the Northeast. The NGI Weekly National Avg. plunged 59 cents to $4.25.