Natural Gas Prices

January Natural Gas Bounces Sharply Upon Expiration; Cool Blast Boosts Cash

January Natural Gas Bounces Sharply Upon Expiration; Cool Blast Boosts Cash

On a day of heightened volatility, the January Nymex natural gas futures contract rebounded sharply ahead of expiration as robust liquefied natural gas (LNG) demand took center stage. Though a full recovery from Monday’s steep sell-off proved difficult, the January contract expired a whopping 16.2 cents higher at $2.467. The February contract, which takes over…

December 29, 2020
Offshore Driller Pacific Sees Emergence From Bankruptcy as Imminent

Offshore Driller Pacific Sees Emergence From Bankruptcy as Imminent

Offshore driller Pacific Drilling Co. expects to emerge from bankruptcy by the end of the year after the U.S. Bankruptcy Court for the Southern District of Texas confirmed the company’s proposed reorganization plan. “The Court’s confirmation of our plan represents an important milestone in our progress towards emergence by year-end with a fully de-levered balance…

December 29, 2020
LNG Shipbuilders See Influx of Orders as Year Comes to an End

LNG Shipbuilders See Influx of Orders as Year Comes to an End

Two of Asia’s leading shipbuilders saw an influx of orders for new liquefied natural gas (LNG) carriers this month, capping an otherwise slow year for newbuilds.  Korea Shipbuilding & Offshore Engineering Co. Ltd. (KSOE) said in a regulatory filing last week that it landed various contracts to build nine LNG carriers. KSOE is scheduled to…

December 29, 2020
January Natural Gas at $2.30 After Weather Data Crushes Hopes for Cold

January Natural Gas at $2.30 After Weather Data Crushes Hopes for Cold

Natural gas futures tumble as weather models turn increasingly mild LNG demand still strong as global gas prices remain near multi-year highs Cash prices plummet amid lackluster demand Natural gas futures tumbled more than 20 cents lower in post-Christmas trading as weather data “failed miserably” over the weekend, shedding a hefty amount of demand from…

December 29, 2020
Weekly Natural Gas Prices Sink Amid Seasonally Mild Weather, Weaker Demand

Weekly Natural Gas Prices Sink Amid Seasonally Mild Weather, Weaker Demand

In an abbreviated four-day trading week ahead of the Christmas holiday, weekly cash prices gave up ground amid mild temperatures and light heating demand across much of the Lower 48. NGI’s Weekly Spot Gas National Avg. for the Dec. 21-24 period fell 45.5 cents to $2.790. Comfortable conditions moved in early and hung around until…

December 24, 2020
U.S. Natural Gas Still Essential, but Lower 48 E&Ps Facing ‘Altered Landscape’ in 2021

U.S. Natural Gas Still Essential, but Lower 48 E&Ps Facing ‘Altered Landscape’ in 2021

Natural gas remains essential to the global energy transition, according to most U.S. executives, but many see a reduced or evolving role as renewables gain and the energy transition accelerates. That’s according to Deloitte, which recently issued its 2021 industry outlook after surveying a broad array of U.S. executives. Following the presidential election, the consultancy…

December 24, 2020
Triple-Digit Storage Withdrawal Fails to Boost January Natural Gas Futures

Triple-Digit Storage Withdrawal Fails to Boost January Natural Gas Futures

The U.S. Energy Information Administration (EIA) reported a steep withdrawal of 152 Bcf natural gas storage for the week ended Dec. 18. The result was bullish compared to a year earlier though it fell short of market expectations and pushed Nymex natural gas futures lower. The latest pull was shy of median estimates around 159-160…

December 23, 2020
Weekly Natural Gas Prices Boosted by Winter Blast, Heating Demand

Weekly Natural Gas Prices Boosted by Winter Blast, Heating Demand

In an eventful stretch of trading influenced by a powerful winter storm that blanketed large swaths of the East with heavy snow and chilly temperatures, weekly natural gas prices soared. NGI’s Weekly Spot Gas National Avg. for the Dec. 14-18 period spiked 79.5 cents to $3.245, led by a surge in Northeast prices that started…

December 18, 2020
FERC Proposes Key Changes to Encourage More Natural Gas Price Reporting

FERC Proposes Key Changes to Encourage More Natural Gas Price Reporting

FERC on Thursday took steps to make clear that companies can safely report both daily and bidweek natural gas transactions to price reporting agencies (PRA), such as Natural Gas Intelligence. The Federal Energy Regulatory Commission said the proposals would clarify requirements for those that report prices, addressing long-standing perceptions of regulatory risk. Specifically, the Commission…

December 17, 2020
Record Snowstorm Snaps Natural Gas Forward Losing Streak; Rampant LNG Demand Fuels Price Gains in 2021

Record Snowstorm Snaps Natural Gas Forward Losing Streak; Rampant LNG Demand Fuels Price Gains in 2021

Fresh off a record-setting Nor’easter that dumped more snow along the upper East Coast than all the snowstorms in 2019 combined, natural gas forward prices finally snapped a three-week losing streak. January prices jumped 22.0 cents on average between Dec. 10 and 16, while the balance of winter (January-March) climbed 18.0 cents, according to NGI’s…

December 17, 2020