The U.S. Energy Information Administration (EIA) on Thursday reported a withdrawal of 117 Bcf of natural gas from storage for the week ended Dec. 1. The draw proved steeper than most expectations but within wider ranges. Mobius Risk Group analysts said a cumulative withdrawal of more than 100 Bcf, and a South Central draw exceeding…
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In Wake of Golden Pass Delay, January Natural Gas Nears $2.50 Ahead of EIA Data
Natural gas futures continued to lose ground early Thursday as milder-trending forecasts did little to repair the damage dealt by a material weakening in export demand expectations heading into next year. After plunging 14.1 cents on Wednesday, the January Nymex contract was down another 3.2 cents to $2.537/MMBtu at around 8:30 a.m. ET. Futures sold…
January Futures Crumbled as News of LNG Facility Delay Stokes Storage Glut Fears
Natural gas futures tanked at midmorning Wednesday after news of the delayed completion of a major LNG export facility accelerated earlier losses driven by healthy production and lackluster weather-related demand. At A Glance: January natural gas sinks 14.1 cents Golden Pass LNG “mechanical completion” delayed Cash sinks on futures, weather The front-month natural gas futures…
Record Natural Gas Production, Plump Mountain Region Storage Suppress Rockies Prices
Natural gas production in the Rockies, like the country overall, is at vigorous levels this fall even as demand from western markets eases. The result: stout supplies in storage and soft prices. Mountain region inventories were 23.5% higher than the five-year average as of Nov. 24, the most recent storage update from the Energy Information…
Profit Taking Supports January Natural Gas Futures Gains
Nymex January natural gas futures settled Tuesday up 1.6 cents at $2.710/MMBtu in a day of profit-taking following the prior day’s 12.0-cent rout on the back of weak fundamental support. At A Glance: Early profit-taking gains pared Weather provides lackluster support Cash markets up on weather, pipeline issues The front-month contract drifted to a $2.675…
Chesapeake Working to Diversify LNG Supply Deals, Gain Price Exposure in Asia, Europe
While Chesapeake Energy Corp. works to finalize its natural gas supply deals with LNG buyers, management says it’s narrowing down opportunities to link more of its Haynesville and Marcellus shale supply to international benchmarks in the months to come. Chesapeake currently has tentative agreements with liquefied natural gas traders that could link up to 3…
January Natural Gas Sees Modest Gains Early on Supportive Shifts from Weather, Production
Natural gas futures probed modestly higher early Wednesday, helped by modestly supportive forecast trends and weaker daily production readings. The January Nymex contract was up to $2.743/MMBtu as of 8:41 a.m. ET, 3.3 cents higher day/day. February was up 2.8 cents to $2.695. A slow increase in weather-driven demand expectations for later this month, signs…
January Natural Gas Retraces Early Sharper Gains To Settle Modestly Higher
Nymex January natural gas futures settled Tuesday up 1.6 cents at $2.710/MMBtu in a day of profit-taking following the prior day’s 12.0-cent rout on the back of weak fundamental support. At A Glance: Profit-taking drives early gains Weather forecasts “less bearish” Chill, pipeline constraints support cash The front-month contract drifted to a $2.675 intraday low.…
January Natural Gas Futures Shrug Off Outlook for Large Storage Withdrawal to End Lower
Updated weather forecasts pointed to ongoing mild conditions that would generate a lack of heating demand through the first half of December. The outlook drove January natural gas futures another leg lower, even as the market eyes what could be the first triple-digit withdrawal from inventories of the season in data due out Thursday. At…
January Natural Gas Futures Retreat Despite Outlook For Large Storage Withdrawal
Updated weather forecasts pointed to ongoing mild conditions that would generate a lack of heating demand through the first half of December. The outlook drove January natural gas futures another leg lower, even as the market eyes what could be the first triple-digit withdrawal from inventories of the season in data due out Thursday. At…