Natural Gas Prices

Mexico Planning Natural Gas Infrastructure Amid Rising Nearshoring, Power Demand – Spotlight

Mexico Planning Natural Gas Infrastructure Amid Rising Nearshoring, Power Demand – Spotlight

North American natural gas futures have been on a hot streak these past two weeks as warmer temperatures and tighter supplies provided market bulls with some optimism. Bucking the trend on Thursday, the New York Mercantile Exchange June contract settled at $2.657/MMBtu, down 18.5 cents day/day. Mexico imports of U.S. gas have, meanwhile, continued to…

May 23, 2024
U.S. Southeast Manufacturing, Industrial Growth Driving Billions in New Natural Gas Infrastructure

U.S. Southeast Manufacturing, Industrial Growth Driving Billions in New Natural Gas Infrastructure

While data centers and artificial intelligence (AI) may dominate the news, investments by large load industrial and manufacturing sectors, particularly in the U.S. Southeast, are driving a significant portion of an expected rise in natural gas consumption. Southeast utility Santee Cooper is looking to add more than 1,000 MW of natural gas-fired electric generation to…

May 23, 2024
Natural Gas Futures Retreating as Storage Fails to Sustain Rally — MidDay Market Snapshot

Natural Gas Futures Retreating as Storage Fails to Sustain Rally — MidDay Market Snapshot

Natural gas futures counterintuitively sank through midday trading Thursday despite a supportive storage print, with the rally that has gripped the market month-to-date unable to find further upside for now.  Here’s the latest: June Nymex futures down 16.9 cents to $2.673/MMBtu as of 2 p.m. ET; July at $2.936, down 11.6 cents Front month extended…

May 23, 2024
European Natural Gas Prices at Five-Month Highs – Three Things to Know About the LNG Market

European Natural Gas Prices at Five-Month Highs – Three Things to Know About the LNG Market

NO. 1: European natural gas prices continued to climb on Thursday, hitting a five-month high after Austria’s OMV AG warned earlier in the week of potential disruptions to Russian gas supplies. The company, one of the few in Europe still importing Russian volumes, said an undisclosed company won a favorable court ruling that could potentially…

May 23, 2024
June Natural Gas Futures Sink Despite Bullish EIA Storage Print

June Natural Gas Futures Sink Despite Bullish EIA Storage Print

The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 78 Bcf natural gas into storage for the week ended May 17. The print was a bullish miss against expectations and historical averages. The result reflected a demand-side push from a hike in power burns and the early return of Freeport LNG while…

May 23, 2024
Canadian Natural Gas E&Ps, Midstreamers Focus on Demand Catalysts

Canadian Natural Gas E&Ps, Midstreamers Focus on Demand Catalysts

Natural gas exploration and production (E&P) firms and midstream companies in Canada expect to continue driving and delivering strong volumes of output. Their high expectations for demand growth outshined weak prices to begin 2024. Such was a prevailing theme of companies active in Western Canada’s natural gas complex during first quarter earnings season. The demand…

May 23, 2024
Storage Surplus Seen Shrinking Further as Natural Gas Futures Climb Ahead of EIA Print

Storage Surplus Seen Shrinking Further as Natural Gas Futures Climb Ahead of EIA Print

Natural gas futures advanced early Thursday as traders prepared to turn to the latest government inventory data to further assess tightening balances heading into the summer cooling season. The June Nymex contract was up 2.2 cents to $2.864/MMBtu as of 8:35 a.m. ET. July was up 2.2 cents to $3.074. Pre-report surveys showed the market…

May 23, 2024
June Natural Gas Futures Surge as Forecasts Suggest a Tighter Supply, Demand Balance; Cash Mixed 

June Natural Gas Futures Surge as Forecasts Suggest a Tighter Supply, Demand Balance; Cash Mixed 

June Nymex natural gas futures rally resumed after a brief and modest reversal lower Tuesday as the market looked beyond bearish near-term fundamentals to longer-range support. At A Glance: Futures gain 9.1 cents Small storage build expected California cash tumbles The front-month contract settled Wednesday at $2.842/MMBtu, up 9.1 cents day/day. NGI’s daily spot price…

May 22, 2024
Natural Gas Futures Back to Rally Mode — MidDay Market Snapshot

Natural Gas Futures Back to Rally Mode — MidDay Market Snapshot

Natural gas futures were returning to rally mode through midday trading Wednesday, shaking off a temporary stumble in the previous session as attention shifted back to summer power burns and declines in excess storage. Here’s the latest: June Nymex futures up 12.6 cents to $2.797/MMBtu as of 1:47 p.m. ET July contract nosing above $3…

May 22, 2024
Phillips 66 Pursues $550M Acquisition to Expand Natural Gas Operations in Permian Midland

Phillips 66 Pursues $550M Acquisition to Expand Natural Gas Operations in Permian Midland

Phillips 66 agreed to acquire Pinnacle Midland Parent LLC in an all-cash deal that would expand its natural gas gathering and processing operations in West Texas. The Houston-based company agreed to pay $550 million to acquire Pinnacle from private equity firm Energy Spectrum Capital in a deal expected to close around mid-year. The acquisition would…

May 22, 2024