Mexico

Supported by sustained hotter-than-normal temperatures in the forecast, natural gas futures probed slightly higher in early trading Tuesday. The August Nymex contract was up 1.1 cents to $3.711/MMBtu at around 8:50 a.m. ET. The lack of clarity on the duration of a production disruption in the Northeast continued to cause some fireworks in the natural…

Mexico’s state oil company Petróleos Mexicanos (Pemex) said an investigation is underway following a fire last Friday (July 2) near one of its Gulf of Mexico (GOM) platforms in the Ku, Maloob and Zaap (KMZ) megafield. Images of the eye-shaped fire went viral on social media as ships dowsing water on the flames appeared to…

Sempra executives on Tuesday (June 29) said bringing the initial phase of the Energía Costa Azul (ECA) liquefied natural gas (LNG) project online in Baja California, Mexico was a top priority, but also said they are already looking at ways to lower the cost of a planned expansion.  “It’s an optimization game,” Sempra LNG CEO…

The uncertainty created by a sharp decline in production proved too much to bear (no pun intended) for the natural gas market on Thursday. Traders eventually brushed off a large miss in the latest government storage report, sending the August Nymex gas futures up another 1.1 cents to $3.661. The September contract tacked on eighth-tenths…

Amid lower cooling demand expectations from the latest round of forecasts, natural gas futures pulled back in early trading Friday. The August Nymex contract was down 1.2 cents to $3.649/MMBtu at around 8:45 a.m. ET. Both the American and European weather models dropped cooling demand from the outlook overnight, according to NatGasWeather. “Most of the…

This week was yet another reminder of the interconnectedness of energy markets as soaring temperatures in disparate parts of the Pacific Northwest in the United States and tight market conditions drove natural gas prices for Mexican end-users higher. Nymex futures rose for eight straight trading days through Thursday, with the August futures contract settling 1.1…

Seven proved to be the natural gas market’s lucky number on Wednesday. Nymex futures managed to overcome an early decline and extended their streak of consecutive gains another day. The August Nymex futures contract settled 2.0 cents higher day/day at $3.650. September edged up 1.8 cents to $3.624. Spot gas prices, however, buckled across the…

Natural gas production in Mexico totaled 3.84 Bcf/d in May, up from 3.61 Bcf/d in May 2020, according to the latest data from upstream regulator Comisión Nacional de Hidrocarburos (CNH). State oil company Petróleos Mexicanos (Pemex) supplied 3.63 Bcf/d of the total, up from 3.37 Bcf/d in the year-ago month and 3.53 Bcf/d in the…

August natural gas prices started to show signs of slowing down Tuesday. But as oppressive heat led to more shattered records and rolling blackouts in the Pacific Northwest, the new prompt month edged up another 3.7 cents to $3.630 in its debut at the front of the Nymex futures. September climbed 3.4 cents to $3.606.…