Markets

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).

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.

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.

The 86 Bcf capacity Aliso Canyon underground natural gas storage field on the northern edge of Los Angeles is vital to the region’s energy reliability and can be safely reopened, according to federal officials heading an interagency nationwide task force.

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.

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.

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.

November natural gas is set to open 6 cents higher Tuesday morning as traders focus on the continuing dynamic of storage surplus contraction. Overnight oil markets rose.

Natural gas infrastructure growth may be outpacing efforts to find more supply-demand balance through U.S. gas exports, according to a panel of experts at the recent LDC Gas Forum Rockies & West in Denver conference.