Markets

Bone-chilling cold that caught off guard a natural gas market plagued by historically low storage inventories sent Nymex futures and forwards markets screaming more than $1 higher from Nov. 8-14, according to NGI’s Forward Look.

Since entering Mexico’s natural gas marketing segment in 2017, BP plc has identified several areas in which the market could be made more efficient, according to the head of the company’s North America gas marketing and trading arm.

Natural gas futures rallied Friday to close out a wild week, with forecasters pointing to long-range cold risks that served to exacerbate storage fears. In the spot market, a number of Northeast points gained on a wintry forecast as most regions sold off heading into the weekend; the NGI Spot Gas National Avg. fell 67.0 to $4.350/MMBtu.

The season’s first spell of legitimate winter cold delivered as promised for natural gas markets during the week ended Friday (Nov. 16), as the robust start to winter compounded concerns over storage deficits to send physical and futures prices soaring. TheNGIWeekly Spot Gas National Avg. jumped $1.170 to $4.565/MMBtu.

Natural gas futures rallied Friday to close out a wild week, with forecasters pointing to long-range cold risks that served to exacerbate storage fears. In the spot market, a number of Northeast points gained on a wintry forecast as most regions sold off heading into the weekend; the NGI Spot Gas National Avg. fell 67.0 to $4.350/MMBtu.

December natural gas futures were down 26.9 cents to $4.568/MMBtu shortly before 9 a.m. ET Thursday as forecasts trended warmer overnight, easing some of the fear in a market made volatile by concerns over lean storage inventories.

The Energy Information Administration (EIA) reported a somewhat larger than expected 39 Bcf injection into U.S. natural gas stocks Thursday, giving bears further encouragement with a volatile futures market already pulling back sharply on forecasts.

Mexico may not be able to reverse its current trend of declining natural gas output for another four to six years, a period during which gas demand from the power sector is projected to accelerate, according to the latest analysis by OPIS PointLogic.

Bone-chilling cold that caught off guard a natural gas market plagued by historically low storage inventories sent Nymex futures and forwards markets screaming more than $1 higher from Nov. 8-14, according to NGI’s Forward Look.