Arc Resources Ltd., one of Canada’s largest natural gas producers, said Wednesday it would send more volumes to Cheniere Energy Inc. for liquefaction and delivery to Europe. Under a gas supply agreement (GSA) signed with Cheniere, Calgary-based Arc said it would send 140,000 MMBtu/d to the Sabine Pass Liquefaction Stage 5 project in Louisiana for…
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December Natural Gas Futures Fail To Gain Traction Ahead Of Expiry; Cash Prices Mixed As ‘Coldest Day’ Passes
Natural gas futures moved lower ahead of the December contract rolling off at the end of trading Tuesday, weighed down by weather forecasts doubling down on a bearishly warm early December and gas production holding near all-time highs. At A Glance: Prompt-month settles at $2.706 Overall physical prices up 2.5 cents Southeast leads cash gains…
Natural Gas Rig Counts Stabilize and Production Powers Up, Pointing to ‘Massive’ Oversupply into 2024
The combination of relatively soft weather-driven demand and record production put the U.S. natural gas market on a path to price-pressuring oversupply well into 2024, a growing chorus of analysts cautioned in November. “We are bearish on U.S. natural gas,” Goldman Sachs Group’s Samantha Dart said bluntly. First things first: U.S. production reached record levels…
Weather, Production Fueling ‘Staunchly Bearish’ Outlook as January Natural Gas Flat Early
Natural gas futures struggled to recover any of their recent losses early Wednesday as updated forecasts continued to point to mild weather-driven demand into mid-December. Coming off a 10.9-cent skid in the previous session, the January Nymex contract was off 0.9 cents to $2.828/MMBtu as of around 8:40 a.m. ET. February was down to $2.790,…
December Natural Gas Futures Fail To Gain Traction Ahead Of Expiry; Cash Prices Mixed As ‘Coldest Day’ Passes
Natural gas futures moved lower ahead of the December contract rolling off at the end of trading Tuesday, weighed down by weather forecasts doubling down on a bearishly warm early December and gas production holding near all-time highs. At A Glance: December Nymex rolls off NGI’s National Avg up to $3.745 Southeast leads cash gains…
Natural Gas Futures Stumble Further Below $3; Spot Prices Surge
Natural gas futures retreated for a second session Monday, chased by another record production reading and warmer forecasts for early December. The December Nymex natural gas futures contract settled at $2.794/MMBtu, down 6.1 cents day/day. January fell 5.3 cents to $2.946. December futures touched an intraday low of $2.709 early in the morning, then trended…
Ample Supplies Outweigh Cold Snap in Europe to Drag Down Natural Gas Prices – LNG Recap
A shot of cold weather that settled in over the weekend across parts of Europe did little to lift natural gas prices in the region, where concerns about the winter heating season have continued to ease amid a surplus of supplies. The December Title Transfer Facility (TTF) contract fell 6% from its close on Friday…
January Natural Gas Plunges Below $3 on Booming Production, Mild December Weather
A mild early December forecast and further evidence of surging domestic production combined to send natural gas futures tumbling early Monday as traders returned from the weekend break. After settling 4.2 cents lower on Black Friday, the December Nymex contract was off another 9.7 cents to $2.758/MMBtu as of 8:42 a.m. ET. January was down…
Weekly Natural Gas Spot Prices Mixed While Futures Flop On Supply Feast
Weekly natural gas prices fell at a majority of locations during the Thanksgiving holiday-shortened week as the easing of maintenance in Texas loosened supply to the west and the coming return of wintery weather was not in time to lift prices beyond the eastern regions. NGI’s Weekly Spot Gas National Avg. for the Nov. 20-22…
December Natural Gas Futures Gain On Storage Result, Weather; Cash Mixed
Nymex December natural gas futures settled higher on the final trade day in the truncated Thanksgiving holiday workweek, supported by a surprise withdrawal from inventories and approaching cold weather. At A Glance: EIA prints 7 Bcf storage draw Warming follows near-term cold Thanksgiving holiday limits cash The front-month contract settled Wednesday at $2.897/MMBtu, which was…