Markets

Canada still harbors resolve – and claims of competitive advantages – to break into global liquefied natural gas (LNG) trade soon on a large scale, skeptical business executives and analysts learned Tuesday in the industry capital of Calgary.

Global oil markets are facing down a “decade of disorder” if long-term supply projects aren’t put into the pipeline, a former chief of the Energy Information Administration (EIA) said Tuesday.

Physical natural gas traders for Thursday deliveries had to look no further than their local weather forecasts Wednesday to ascertain the necessity of incremental purchases. Forecasts from New England to the Midwest called for blustery, windy, and cool conditions heading toward the weekend and not a single point followed by NGI traded lower.

Relatively warm winter weather across most of the country has dulled demand for natural gas, resulting in a 12% decrease in the Energy Information Administration’s (EIA) forecast Henry Hub spot price for 2017, to $3.03/MMBtu, the agency said in its latest Short-Term Energy Outlook (STEO), which was released Tuesday.

Relatively warm winter weather across most of the country has dulled demand for natural gas, resulting in a 12% decrease in the Energy Information Administration’s (EIA) forecast Henry Hub spot price for 2017, to $3.03/MMBtu, the agency said in its latest Short-Term Energy Outlook (STEO), which was released Tuesday.

A few physical natgas delivery points in the east traded a few pennies higher for Wednesday delivery, and a few other national points traded unchanged, but the vast majority slipped anywhere from a nickel to a dime or more.

April natural gas is set to open 7 cents lower Tuesday morning at $2.83 as weather forecasts call for a milder mid-section of the country and traders continue to recommend a short market stance. Overnight oil markets rose.

April natural gas is seen opening 9 cents higher Monday morning at $2.92 as traders respond to forecast cooling. Overnight oil markets were mixed.

Sales of natural gas by 23 leading marketers were down 1.93 Bcf/d (2%) in 4Q2016, but upward swings in the two previous quarters were enough to push the year-end total higher compared with 2015, according to NGI’s 4Q2016 and Full-Year 2016 Top North American Natural Gas Marketers rankings.