Traders struggled to put a fair price on natural gas futures Wednesday amid conflicting signals in the United States and overseas. After plunging to a $5.350/MMBtu intraday low, however, a cooler turn in the latest weather models lifted the November Nymex gas futures contract, which settled 8.5 cents higher day/day to $5.590. December climbed 9.0…
Mexico
Articles from Mexico
Natural Gas Futures Find New Footing to End Losing Streak
Following a steep loss to start the week, natural gas futures recovered some ground Tuesday and finished ahead on the day as traders bet that recent market selloffs were overdone. This ended a two-day losing streak dating to last week. At A Glance: Futures end two-day skid Global supply challenges could fester Outlook points to…
LNG Growth Said Creating Competitive Global Natural Gas Markets
Turbulence in natural gas pricing facing buyers across the globe is not a sign of an energy system breakdown but rather is a part of the ongoing creation of competitive markets, according to Carina Energy Consulting’s Sam Andrus. A veteran trader and analyst with decades of experience in the natural gas business, Andrus spoke on…
Natural Gas Futures Trade in 50-Cent Range, but Settle Lower; Cash Mixed on Chilly West
After testing some upside in overnight trading, natural gas futures reversed course once Monday’s trading session got underway. The initial rise in prices was attributed to cooler-trending weather models, which ultimately did little to alter the overall warm theme seen this fall. The November Nymex gas futures contract slid 22.0 cents to $5.345. December fell…
Natural Gas Futures Fall Again to Close Week; First Snow Fails to Spark Cash Trading
After another week of turbulent swings in the natural gas market, bulls and bears appeared ready to take a breather on Friday. November Nymex gas futures still gyrated in a more than 30-cent range, but were poised to settle nearly flat on the day before a late-session sell-off ended with the contract off 11.2 cents…
Mexico Energy Industry ‘Standing on Edge of Cliff,’ Veteran Expert Says
“I feel like Mexico is really standing at the edge of a cliff and deep down at the dark bottom of that cliff is Venezuela,” said Marcelo Mereles Gras, veteran Mexico energy expert and partner at HCX Hydrocarbon Exchange, in reference to the legislation proposed by President Andrés López Obrador on Oct. 1 to undo…
Natural Gas Futures Unchanged Despite Wild Intraday Swings Following EIA Data
With European natural gas prices continuing to sell off and U.S. fundamentals remaining firmly in bear territory following the government’s latest storage report, futures prices slid early. The November Nymex contract touched a $5.393/MMBtu intraday low but popped quite a bit given little change in the global backdrop, settling Thursday at $5.677, up two-tenths of…
European Volatility Impacting North American Natural Gas Prices – Mexico Market Spotlight
Volatility continued to rock the Mexican natural gas market this week as North American prices came under the influence of wildly unpredictable Asian and European fundamentals. “Rallying, volatile U.S. benchmarks are creating anxiety in Mexico’s industrial sector, where gas demand is more correlated than ever,” Wood Mackenzie’s Ricardo Falcón told NGI’s Mexico GPI. U.S. benchmarks…
Natural Gas Futures Stumble on Cooling European Market, Soft Domestic Fundamentals; Cash Slips
There was no getting off the world’s scariest roller coaster on Wednesday. After blasting to a $6.466/MMBtu intraday high, November natural gas prices plummeted all the way back down to $5.663. The prompt Nymex contract ultimately settled at $5.675, off 63.7 cents from Tuesday’s close. December plunged to $5.803. At A Glance: BREAKING: U.S. EIA…
OPEC-Plus in Driver’s Seat As Global Energy Crisis Intensifies
Energy shortages and price spikes suggest the world needs more oil to meet global needs in the near term. Just how much more – and how quickly – remains a moving target. With Lower 48 producers hesitant to boost output in the pandemic’s wake, the Organization of the Petroleum Exporting Countries (OPEC) and its allies,…