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…
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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…
Natural Gas Futures, Cash Prices Fail to Sustain Fresh Momentum
Coming off a 56.0-cent sell-off to close out last week’s trading, natural gas futures on Monday shrugged off recent bearish developments and reversed course, trading in positive territory most of the day. Still, futures lost momentum late, despite seasonally stout cooling demand forecast for this week, and the October Nymex gas futures contract settled at…
WeatherBELL’s Bastardi Sees Active End to Hurricane Season, Cold December
Although current climate patterns portend a rather mild winter overall this year, historical comparisons indicate that December could be quite cold, according to WeatherBELL Analytics LLC meteorologist Joe Bastardi. Speaking at the LDC Gas Forums Mid-Continent show in Chicago last week, Bastardi said October weather often is a key indicator of how cold it may…
Record LNG Imports Weighing on European Natural Gas Prices – LNG Recap
European natural gas prices again tumbled Monday as storage inventories climbed and governments continued to discuss measures aimed at better controlling soaring energy costs. The October Title Transfer Facility (TTF) contract fell by roughly 3% from Friday’s close to finish Monday below $54/MMBtu. TTF is down by more than 40% from August highs of $100. …
Natural Gas Futures, Spot Prices Nosedive as Production Holds Strong
Natural gas futures floundered a second consecutive day on Friday as markets continued to digest a bearish storage report, looming fall weather and an averted railroad strike that could have snarled supply chains and wreaked havoc across the U.S. economy. The October Nymex natural gas futures contract settled at $7.764/MMBtu, down 56.0 cents day/day. A…
Bearish Technicals Seen Pressuring Natural Gas Futures as Sell-Off Continues
Natural gas futures continued lower in early trading Monday as analysts highlighted bearish technical momentum. Coming off a 56.0-cent sell-off to close out last week’s trading, the October Nymex contract was down another 28.8 cents to $7.476/MMBtu as of around 8:55 a.m. ET. Friday’s sell-off saw the front month drop below key technical support at…
Weekly Natural Gas Prices, Futures See-Saw in Wild Trading Stretch
Natural gas cash prices both soared and plummeted during the week that ended Sept. 16 in volatile late-summer trading. When the dust settled at the close of a news-heavy five-day span, spot prices landed in negative territory. NGI’s Weekly Spot Gas National Avg. for the Sept. 12-16 period shed 19.5 cents to $7.670. Natural gas…
Natural Gas Futures Fall Further as Market Braces for Potential Triple-Digit Storage Injection
Natural gas futures floundered a second consecutive day on Friday as markets continued to digest a bearish storage report, looming fall weather and an averted railroad strike that could have snarled supply chains and wreaked havoc across the U.S. economy. The October Nymex natural gas futures contract settled at $7.764/MMBtu, down 56.0 cents day/day. A…