Natural gas futures took a hit Thursday morning after the Energy Information Administration (EIA) reported a storage injection that was a greater than what traders were expecting.
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NGI The Weekly Gas Market Report
U.S. NatGas Pipelines to Mexico Set Another Export Record in June
For the second consecutive month, the United States in June sent the most natural gas to Mexico through pipelines of any month on record, reaching 105.84 Bcf (3.53 Bcf/d), according to Energy Information Administration (EIA) data.
September NatGas Bidweek Features Solid Gains, But Traders Skeptical
September natural gas bidweek bulls regained some of their footing following August Bidweek’s 23-cent setback to $2.43. It wasn’t quite the same as July’s 86-cent surge, but the NGI September 2016 National Bidweek Average rose 8 cents to $2.51, which coincidentally is 8 cents higher than the September 2015 average of $2.43.
GOM Oil, NatGas Shut-In Numbers Drop as Hurricane Hermine Moves Into Florida
Tensions eased in the Gulf of Mexico (GOM) Thursday, with shut-in numbers declining and workers preparing to head back to platforms, as Hermine, upgraded to hurricane status, made its long-awaited move toward the Florida coast.
ERCOT Has Enough Fall, Winter Power; NatGas-Fired Units Recently Added
The Electric Reliability Council of Texas (ERCOT) said Thursday that it expects to have enough power generating capacity available to meet fall and winter demand.
Traders Mull Gulf Shut-Ins; October Seen 2 Cents Higher
October natural gas is set to open 2 cents higher Wednesday morning at $2.85 as traders factor in production losses resulting from weather-driven Gulf of Mexico shut-ins. Overnight oil markets fell.
Most North American Basin Pricing Still ‘Unsustainable,’ Says Schlumberger Exec
The global oil supply is tightening, and markets should move closer to balance by the end of this year, but it’s too early for “any improvement in price” to affect exploration investments because operator confidence and balance sheets still need to be repaired, Schlumberger Ltd.’s operations chief said Tuesday.
Cheniere Exec Gentle Jumps Ship to Rival Souki Venture
Former Cheniere Energy Inc. marketing executive Meg Gentle has ponied up $10 million of her takings from that company to buy into startup liquefied natural gas (LNG) developer Tellurian Investments, which was co-founded by ousted Cheniere co-founder Charif Souki. Gentle will be Tellurian’s president and CEO, and a member of its board.
NatGas Cash Down, But Futures Add 6 Cents Amidst GOM Shut-Ins
Financial and physical natural gas moved in opposite directions in Wednesday’s trading for Thursday deliveries. Few points made it to the plus side of the trading ledger, and most locations were off by a nickel or more.
Little Change in Weather, Yet October Called 3 Cents Higher
October natural gas is set to open 3 cents higher Tuesday morning at $2.93 although observers note a less than supportive trading landscape going forward. Overnight oil markets were mixed.