Pennsylvania collected $174 million in impact fees from unconventional natural gas producers in 2023, a decrease from previous years because of lower natural gas prices and fewer wells, according to an estimate from the state’s Independent Fiscal Office (IFO). The IFO last week issued the 2023 Impact Fee Estimate, which relies on preliminary natural gas…
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January Natural Gas Inches Higher as Weather-Driven Demand Seen Strengthening into New Year
Natural gas futures probed modestly higher early Wednesday as the prospect of a somewhat chillier start to 2024 — especially compared to mild December temperatures — supported prices at the front of the curve. The January Nymex contract was up 2.8 cents to $2.520/MMBtu at around 8:45 a.m. ET. In Tuesday’s session, the January contract…
January Natural Gas Sinks as Revised Weather Outlooks Shrink Demand Hopes
January Nymex natural gas futures’ four-day winning streak ended Tuesday in losses driven by revised weather outlooks that erased some cooler, supportive weather from forecasts. At A Glance: January futures slip 1.1 cents Weather forecasts more bearish Spot gas prices slump The front-month contract settled at $2.492/MMBtu, off 1.1 cents day/day. February futures closed at…
Naval Force Mobilizing to Stop Red Sea Attacks Eases Natural Gas Supply Concerns in Europe
European natural gas prices retreated on Tuesday after the United States announced an international naval force to protect commercial and energy cargoes transiting the Red Sea. The Title Transfer Facility erased the gains it made Monday amid escalating tensions in the Middle East. The prompt month contract fell 8% to close at $10.47/MMBtu, its lowest…
Natural Gas Futures Give Back Early Gains to Finish Slightly Higher Monday
January Nymex natural gas futures extended a relief rally into the fourth trading day Monday as hints of colder January weather provided some support, but weather and fundamental outlooks suggested the upside movement would be short-lived. The front-month contract settled at $2.503/MMBtu, up 1.2 cents from Friday but well off an early high of $2.597.…
Howard Energy Touts South Texas Natural Gas Expansions, Record Throughput as LNG Demand Taking Off
Howard Energy Partners (HEP) completed about $800 million worth of growth projects and achieved record natural gas throughput on its assets during 2023, the company said Wednesday. San Antonio, TX-based HEP owns energy infrastructure assets in Texas, New Mexico, Oklahoma, Pennsylvania and Mexico. The newly completed projects include “new major pipelines and processing facilities in…
Resilient Economy, Potential for Interest Rate Cuts Could Power Industrial Natural Gas Demand, Support Prices
For all the talk about weak weather-driven demand in 2023, a buoyant U.S. economy may complement mounting global energy needs and provide a key pillar of strength for natural gas markets in the form of steady industrial demand in the new year. Over much of 2023, elevated inflation and the Federal Reserve’s (Fed) aggressive interest…
Natural Gas Futures Finish Monday Slightly Higher as Sharper Gains Relinquished
January Nymex natural gas futures extended a relief rally into the fourth trading day Monday as hints of colder January weather provided some support, but weather and fundamental outlooks suggested the upside movement would be short lived. At A Glance: Futures reverse early larger gains Supply outweighs brief weather support Cooldown helps cash mostly higher…
Middle East Shipping Chokepoint Pushes Global Natural Gas Prices Higher – LNG Recap
Global natural gas prices bounced back Monday, lifted by escalating tensions in the Middle East, where increasing attacks in the Red Sea have impacted commercial shipping operations. BP plc joined a growing list of major shipping companies in announcing that it would halt all of its oil and natural gas cargoes in the Red Sea.…
‘Relief Rally’ Continues for Natural Gas Early as Forecasts Hint at January Cold
With forecasts hinting that exceptional December warmth could eventually give way to January chills, natural gas futures continued to recover in early trading Monday. After rallying 9.9 cents on Friday, the January Nymex contract was up another 7.2 cents to $2.563/MMBtu at around 8:30 a.m. ET. EBW Analytics Group analyst Eli Rubin characterized the recent…