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Market Can’t Ignore Mild Temps, Record Storage; November NatGas Forwards Erase Prior Week’s Gains

Market Can’t Ignore Mild Temps, Record Storage; November NatGas Forwards Erase Prior Week’s Gains

Natural gas forwards markets wiped out last week’s gains, plunging some 16 cents on average between Oct. 14 and 20, as the market continues to wait for cold weather to arrive and grapples with record storage inventories.

October 21, 2016
World Bank Raises 2017 Crude Outlook to $55/bbl, Cites OPEC Agreement

World Bank Raises 2017 Crude Outlook to $55/bbl, Cites OPEC Agreement

The World Bank raised its forecast for 2017 crude oil prices from $53/bbl to $55/bbl Thursday, citing a potential production limits agreed to by the Organization of the Petroleum Exporting Countries (OPEC).

October 21, 2016

Briefs — Storage Leak Anniversary

Residents near the Southern California Gas Co. Aliso Canyon underground natural gas storage fieldon Sunday will mark the one-year anniversary of the four-month storage well leak that disrupted their lives this year, calling on the state to shut down the now-closed facility permanently. “Thousands of residents are still sick from the lingering effects of the toxic blowout, and Aliso has had four major leaks since the affected well was capped,” said a spokesperson for Food & Water Watchand the Save Porter Ranchresidents’ organization, both of which want the 86 Bcf, 3,600-acre facility shut down permanently. SoCalGas and state and federal energy officials have said the facility eventually can be safely operated again, and consider it an important source of electric and gas reliability in the region.

October 21, 2016
NatGas Price Bears Get an Assist From Slightly Larger-Than-Expected Storage Build

NatGas Price Bears Get an Assist From Slightly Larger-Than-Expected Storage Build

Natural gas futures lost ground Thursday morning before and after the Energy Information Administration (EIA) reported a storage injection that was greater than what traders and analysts were anticipating.

October 20, 2016
NatGas, Power Outlook For Upcoming Winter ‘Cautiously Optimistic,’ FERC Says

NatGas, Power Outlook For Upcoming Winter ‘Cautiously Optimistic,’ FERC Says

Natural gas and power markets are ‘cautiously optimistic’ as they approach the upcoming winter, according to the 2016-2017 Winter Energy Market Assessment released Thursday by FERC’s Office of Enforcement (OE).

October 20, 2016
NatGas Cash Dives; Futures Bears Feeling The Love Following Stout Storage Report

NatGas Cash Dives; Futures Bears Feeling The Love Following Stout Storage Report

Physical natural gas traders having no desire to subject their deals to the often volatile effects of the 10:30 am EDT release of storage data by the Energy Information Administration (EIA) may have set the stage for a broad market shift lower by both futures and cash markets.

October 20, 2016

AGA Says Most NatGas Utilities Predicting Slightly Higher Residential Heating Bills This Winter

Nearly two-thirds of natural gas utilities responding to a survey by the American Gas Association (AGA) predict residential heating bills will be higher for the upcoming winter season, but those bills are still projected to be the fourth-lowest within the past decade.

October 19, 2016

U.S. Unconventionals to Pressure Oil Prices for Years, Says ExxonMobil Chief

Even as supplies tighten, ample production from U.S. unconventional drilling will pressure commodity prices for years to come, ExxonMobil Corp. CEO Rex Tillerson said Wednesday.

October 19, 2016
CA NatGas Gains Stand Out in Otherwise Messy Market; Futures Sheds 9 Cents on Revised Weather

CA NatGas Gains Stand Out in Otherwise Messy Market; Futures Sheds 9 Cents on Revised Weather

Physical natural gas prices for Thursday delivery couldn’t quite make it three in a row and gave ground on Wednesday in large part because of weather-driven screen losses.

October 19, 2016

Weather Models Shift; November Called 9 Cents Lower

November natural gas is expected to open 9 cents lower Wednesday morning at $3.17 as weather forecasts make an abrupt shift milder. Overnight petroleum markets were mixed.

October 19, 2016