Mexico

The July Nymex contract on Thursday rose for the seventh time in eight trading sessions to $3.253/MMBtu, up two-tenths of a cent day/day, as temperatures across the United States rose and demand for natural gas across many parts of the world remained strong. “We remain on pace to come close to record hot levels for…

Natural gas futures tumbled early Wednesday, threatening a second day of losses, but prices rebounded in afternoon trading as new data showed production declined, exports climbed and weather forecasts pointed to strong cooling demand in the weeks ahead. The July Nymex contract settled at $3.251/MMBtu, up 1.1 cents day/day. It marked the sixth day of…

Natural gas could help determine whether Mexico can shrink the economic gap between its industrialized north and developing south, according to a new report published by Rice University’s Baker Institute for Public Policy. Through his Program for the Development of the Isthmus of Tehuantepec (PDIT), President Andrés Manuel López Obrador is aiming to succeed where…

After a five-day rally fueled by blistering heat and surging cash prices, natural gas futures faded on Tuesday as export volumes retreated, technical resistance loomed and traders took profits. The July Nymex contract dipped 11.2 cents day/day and settled at $3.240/MMBtu. August slid 11.1 cents to $3.256. NGI’s Spot Gas National Avg. shed 13.5 cents…

Mexico President Andrés Manuel López Obrador said during his daily press conference on Tuesday that his government would work toward a constitutional reform in the electric power sector. “We need a reform so that domestic users, and the poor and middle class, don’t pay more for their electricity than big corporations,” he said. The president…

Natural gas futures on Monday rallied for a fifth consecutive day as simmering summer heat, a recovery in liquefied natural gas (LNG) levels and supply pressures collectively provided further price support. The July Nymex contract settled at $3.352/MMBtu, up 5.6 cents day/day. August rose 5.6 cents to $3.367. Strong near-term weather demand also boosted cash…

Upstream oil and gas spending in Latin America is on track for a modest year/year (y/y) recovery in 2021 after a pandemic-driven slowdown in 2020, according to Evercore ISI. Exploration and production (E&P) spending by select firms in the region fell by 14% y/y in 2020, Evercore analysts said in the firm’s 2021 Global E&P…

After a week of only modest changes along the Nymex futures curve, price action on Friday was anything but, as a major natural gas pipeline warned that restrictions it has in place could last through the end of September. The July Nymex gas futures contract started climbing overnight and continued to surge throughout the day,…

July natural gas futures touched $3.200/MMBtu early Thursday, but government storage data confirming a continuation of loose balances quickly drained momentum. The July Nymex contract ultimately settled at $3.149, up only 2.0 cents day/day. August climbed 2.2 cents to $3.166. Spot gas prices continued to weaken in some areas of the United States, with the…