Natural Gas Prices

Natural gas futures sank below $3.000/MMBtu on Tuesday as markets looked past the immediate brutal cold to an expected warm-up in temperatures next week as indicated by increased confidence in weather models. At A Glance: Brutal cold to last into weekend Production drops to 92.4 Bcf/d NGI models 165 Bcf draw The February Nymex natural…

Mexico’s natural gas system is standing firm amid bitingly cold weather in Texas that brought back memories of the 2021 winter storm that deeply impacted cross-border flows. On Friday night, Mexico power system operator Cenace declared a state of operational emergency on the national grid “due to the possibility of rationing of natural gas imported…

Despite signs over the weekend that armed conflict in the Middle East may be ratcheting up to a new level, global natural gas prices continued to edge downward as storage levels and weather trumped volatility. After a series of missile strikes by U.S. and UK forces on suspected Houthi militia outposts in Yemen, militants and…

Extreme cold that permeated much of the Lower 48 throughout the long Martin Luther King Jr. Day holiday weekend and into the current trading week at once sent natural gas demand soaring and froze wells, causing steep cuts to production that carried into Tuesday. Temperatures over parts of the Mountain West, Plains and Midwest plunged…

Asian spot LNG prices reached a seven month low in January, dropping below $10/MMBtu, bringing cost-sensitive buyers like Bangladesh, India, Pakistan and Thailand back to the spot market. High gas storage levels in Europe have pushed prices there lower and prompted liquefied natural gas sellers to turn their attention to Asia.  Asia-Pacific “demand will continue…

Oil and gas executives in the Rocky Mountain and Midcontinent regions no longer expect the Henry Hub natural gas price to surpass $4/MMBtu at any point in the next five years, according to the Federal Reserve Bank of Kansas City. The Kansas City Fed conducts quarterly surveys to gauge current and expected drilling activity in…

Natural gas and oil explorers worldwide are predicted to spend 5% more overall this year for upstream activity, with North American budgets rising for the third consecutive year. While upstream capital expenditures (capex) by global exploration and production (E&P) companies will climb, it’s predicted to sharply decelerate from the double-digit gains in 2023, according to…

Despite intense winter weather and market disruptions in the near term, natural gas futures were down sharply in early trading Tuesday as models increased confidence in a return to milder temperatures for the final third of January. After rallying 21.6 cents on Friday, the February Nymex contract was down 33.6 cents to $2.977/MMBtu at around…

Weekly natural gas cash prices gained substantial ground for the second time early in the new year amid frigid temperatures across much of the Lower 48 and lighter production readings. NGI’s Weekly Spot Gas National Avg. for the Jan. 8-12 period cruised ahead $3.095 to $6.065. Big gainers peppered the Lower 48. Malin in the…