Natural gas futures on Wednesday gained ground for the first time in five sessions as global supply doubts personified by Russia’s president and his threat of launching nuclear weapons overshadowed fading demand. At A Glance: BREAKING: U.S. EIA reports 103 Bcf injection into storage Putin makes nuclear threat Forecasts call for cooler weather The October…
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Natural Gas Futures Hang in the Red as Triple-Digit Storage Injection Eases Supply Concerns
The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 103 Bcf into natural gas storage for the week ended Sept. 16. The result exceeded analysts’ expectations and soothed market concerns about ample supplies for the coming winter, keeping pressure on Nymex natural gas futures. The build marked the largest of the year,…
Natural Gas Futures Snap Losing Streak After Putin’s Veiled Nuclear Threat
Natural gas futures on Wednesday gained ground for the first time in five sessions as global supply doubts personified by Russia’s president and his threat of launching nuclear weapons overshadowed fading demand. At A Glance: Russia to ramp up Ukraine war effort Analysts look for 90s Bcf injection Forecasts call for cooler conditions The October…
Natural Gas, Oil Industry Profits Forecast to Retreat in 2023 on Slower Demand, Economic Pull Back
Global energy company earnings, which surged on stronger oil and natural gas prices, should ease in 2023 as the industry adjusts to slower demand growth and an economic slowdown, according to Moody’s Investors Service. “The pace of improvement in fundamental industry conditions will also decelerate after a strong post-lockdown rebound in earnings and credit quality…
October Natural Gas Futures Extend Losing Streak; Cash Prices Called Lower
Natural gas futures gave up more ground Tuesday despite a bout of near-term heat and a drop in production, extending to four days a string of consecutive losses. The October Nymex gas futures contract shed 3.5 cents day/day and settled at $7.717/MMBtu. November fell 3.2 cents to $7.772. NGI’s Spot Gas National Avg. on Tuesday…
As Russia Signals Escalation in War Effort, Natural Gas Futures Rally Early
Against a backdrop of broader energy market anxieties over a potential escalation in the conflict in Ukraine, natural gas futures rallied in early trading Wednesday. The October Nymex contract was up 23.0 cents to $7.947/MMBtu as of around 8:45 a.m. ET. West Texas Intermediate front month crude oil futures were trading $1.02 higher at $84.96/bbl.…
Natural Gas Futures Slide as Bears Outmuscle Bulls in Battle at $8 Price Border
Natural gas futures gave up more ground Tuesday despite a bout of near-term heat and a drop in production, extending to four days a string of consecutive losses. The October Nymex gas futures contract shed 3.5 cents day/day and settled at $7.717/MMBtu. November fell 3.2 cents to $7.772. NGI’s Spot Gas National Avg. on Tuesday…
Waha Natural Gas Price Trading at Increasing Discount to Henry Hub, Bolstering Mexico
Natural gas prices at the Waha pricing point in West Texas continue to offer an attractive long term option for offtakers, including in Mexico, according to analysis from the U.S. Energy Information Administration (EIA). Since late 2021, the difference “has been widening” between the natural gas price at Waha and the Henry Hub benchmark in…
Europe Searching for Alternative Benchmark Amid TTF, LNG Disconnect
Proposals by the European Commission (EC) to tame soaring energy costs don’t alter the role natural gas plays on the continent and may do little to rein in the volatility that has ruled the market this year. The EC proposed revenue caps on some power producers, a windfall tax on the excess profits of fossil…
Leading North American Natural Gas Marketers Post 2Q2022 Gains Amid Demand, Price Spikes
Top North American natural gas marketers reported stronger overall sales volumes for the second quarter as production gathered momentum in response to strong consumption and prices. A multitude of enduring demand drivers could fuel momentum through this year and into next, marketers and traders say. The 24 gas marketers included in the latest NGI Top…