Natural gas and oil executives are likely to “prudently navigate” through turbulent commodity prices this year before sailing into smoother seas heading into 2025, according to industry analysts. Exploration and production (E&P) companies in their quarterly conference calls, which are already underway, should be “guiding conservatively” in 2024, “particularly on the natural gas side,” Tudor,…
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Facing Mild Temps, Production, Natural Gas Futures Eke Out Early Gains
Natural gas futures attempted to claw back some of their recent losses early Tuesday as exceptionally mild temperatures and recovering production volumes continued to weigh on prices. Coming off a 12.1-cent sell-off Monday as the February Nymex contract rolled off the board, March was up 2.8 cents to $2.082/MMBtu at around 8:50 a.m. ET. Weather…
Natural Gas Futures Fall as February Contract Rolls Off; Cash Mixed as South Cools Down
Natural gas futures sank Monday as warmer forecasts and rebounding production volumes weighed on outlooks, with the February contract volatile on its last trading day. At A Glance: NGI models 190 Bcf draw Southeast bucks warm trend Production recovery continues The February Nymex gas futures contract dropped 22.2 cents day/day to settle at $2.490/MMBtu. The…
Escalating Geopolitical Tensions Push European Natural Gas Prices Higher – LNG Recap
Escalating tensions in the Middle East and uncertainty over U.S. LNG exports combined Monday to push European natural gas prices higher. Despite weak fundamentals, “geopolitics remain in focus” for the global energy market, said Schneider Electric analyst Robbie Fraser. Three U.S. servicemen were killed in a drone strike in Jordan over the weekend that was…
How Did the U.S. Natural Gas Market Fare During the January Freeze? Listen Now to NGI’s Hub & Flow
Click here to listen to the latest episode of NGI’s Hub & Flow, in which NGI’s team of senior markets reporters discuss January’s wintry weather and the toll it took on the U.S. natural gas market. NGI Price & Markets Editor Leticia Gonzales is joined by Senior Markets editors Kevin Dobbs, Chris Newman and Jodi…
Volatile February Natural Gas Plunges Early as Fundamental Outlook Seen Bearish
Warm mid-February temperatures and recovering production volumes helped sink natural gas futures in early trading Monday. After rallying 14.1 cents Friday, the expiring February Nymex contract was off 20.7 cents to $2.505/MMBtu at around 8:50 a.m. ET on thin volume. The March contract was down 6.5 cents to $2.110. After trading in a wide range…
Weekly Natural Gas Spot Prices Slide as ‘Warmest Patterns of the Past 50 Years’ Hits Demand
Weekly natural gas cash prices fell for a second week as milder winter weather deflated demand across much of the Lower 48. NGI’s Weekly Spot Gas National Avg. for the Jan. 22-26 period tumbled $2.165 to $2.380/MMBtu with declines in all regions. The Northeast led the way down. Iroquois Zone 2 collapsed $13.480 to average…
February Natural Gas Futures Shake Off LNG Blues, Rally Ahead of Expiry; Cash Mixed
February natural gas futures got knocked down by LNG export headwinds early Friday but rallied in thin volumes into the close as mild forecasts turned a touch cooler. At A Glance: Freeport LNG hobbled by train outage Prompt month to roll off Monday Production still 2 Bcf/d off highs The February Nymex gas futures contract…
Warmth Dominates into February as Natural Gas Forwards Retreat; Stronger Basis Out West
Facing bearish weather headwinds into early February, regional natural gas forward prices generally drifted lower during the Jan. 18-24 trading period, NGI’s Forward Look data show. Amid a return to the unseasonably mild temperatures that dominated forecast maps prior to a mid-January Arctic cold blast, fixed prices at numerous hubs impacted by the deep freeze…
Massive Withdrawal, Volatile Natural Gas Prices Punctuate Potential Storage Development Needs
The whopping 326 Bcf of natural gas that utilities pulled from storage in the third week of January amplified concerns that capacity may prove inadequate in coming years as U.S. production further escalates to meet global LNG demand. “As the size of North America’s gas market has ballooned in recent years, storage capacity expansions have…